Compass: Credit Suisse 'top pick' in European catering
(CercleFinance.com) - Credit Suisse has started to cover the Compass share with an "outperform" rating, saying that the world's biggest catering company deserves a "larger premium.
"
In a note to clients, the broker said that the stock seems least at risk given its 13% derating since 10 February, which it says represents an "opportunity."
The share trades on 16x 2022e P/E, an 18% discount to its 2018/19 average, and an "attractive" level compared to French rival Sodexo, it added.
Its 1,800 pence target price implies 53% potential upside.
Compass is currently Credit Suisse's top pick in European catering.
Copyright (c) 2020 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.
"
In a note to clients, the broker said that the stock seems least at risk given its 13% derating since 10 February, which it says represents an "opportunity."
The share trades on 16x 2022e P/E, an 18% discount to its 2018/19 average, and an "attractive" level compared to French rival Sodexo, it added.
Its 1,800 pence target price implies 53% potential upside.
Compass is currently Credit Suisse's top pick in European catering.
Copyright (c) 2020 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.