ALD: Deutsche Bank cuts target price
(CercleFinance.com) - On Monday Deutsche Bank announced that it had lowered its target price for ALD shares from E16 to E12, while reiterating its buy rating.
In its morning comments, the broker praises the resilience of the business of Société Générale's car rental subsidiary, which it nevertheless considers "undervalued" by the market.
While it also highlights the company's solid credit rating, as well as its ability to continue raising funds at attractive interest rates, the broker explains that it has revised its estimates following the new targets communicated last month by the fleet manager's management.
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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.
In its morning comments, the broker praises the resilience of the business of Société Générale's car rental subsidiary, which it nevertheless considers "undervalued" by the market.
While it also highlights the company's solid credit rating, as well as its ability to continue raising funds at attractive interest rates, the broker explains that it has revised its estimates following the new targets communicated last month by the fleet manager's management.
Copyright (c) 2023 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.