Verallia: Oddo still a buyer
(CercleFinance.com) - Oddo maintains its "outperform" rating on Verallia shares, maintaining its target price at 41 euros (current price almost 32 euros, up over 3%).
The broker says that Verallia has strong operating leverage and that the targets set at the time of its 2019 IPO have been achieved a year ahead of schedule - including an EBITDA margin of over 25% despite the health crisis.
Verallia also says that it is targeting at least 10% growth in its EPS and dividend.
Based on the middle of the topline guidance, the group should achieve sales of 3 billion euros in 2024, with an adjusted EBITDA of 820-to-930 million euros (vs. 677 million euros estimated for 2021), Oddo reports, which has increased its 2024 adjusted EBITDA estimate by 7%.
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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.
The broker says that Verallia has strong operating leverage and that the targets set at the time of its 2019 IPO have been achieved a year ahead of schedule - including an EBITDA margin of over 25% despite the health crisis.
Verallia also says that it is targeting at least 10% growth in its EPS and dividend.
Based on the middle of the topline guidance, the group should achieve sales of 3 billion euros in 2024, with an adjusted EBITDA of 820-to-930 million euros (vs. 677 million euros estimated for 2021), Oddo reports, which has increased its 2024 adjusted EBITDA estimate by 7%.
Copyright (c) 2021 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.