Europcar: Oddo adjusts target price after road show
(CercleFinance.com) - Oddo has confirmed its buy rating on the stock while trimming its target price to 13.
90 euros (against 15 euros).
In the end, although most of the group's business is in Q3 (>60% of FY Ebitda), its targets seem cautious and levers for growth in profitability have been identified (synergies from acquisitions), Oddo points out in its daily equity report.
At Europcar's Road Show in Brussels, the group recapped its growth outlook for 2018 and in the medium term.
For 2018, the group confirms that it expects organic growth of over 3%.
The group's 2018 target of reaching Corporate Ebitda excluding new mobilities of over 350 million euros seems cautious in light of pro-forma data for 2017 (329 million euros), Oddo believes.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
90 euros (against 15 euros).
In the end, although most of the group's business is in Q3 (>60% of FY Ebitda), its targets seem cautious and levers for growth in profitability have been identified (synergies from acquisitions), Oddo points out in its daily equity report.
At Europcar's Road Show in Brussels, the group recapped its growth outlook for 2018 and in the medium term.
For 2018, the group confirms that it expects organic growth of over 3%.
The group's 2018 target of reaching Corporate Ebitda excluding new mobilities of over 350 million euros seems cautious in light of pro-forma data for 2017 (329 million euros), Oddo believes.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.