Just Eat: Liberum still a buyer, but cuts target
(CercleFinance.com) - Liberum reiterates its "buy" recommendation on the Just Eat share, although has cut its target price from 1360 pence to 870 pence, after Just Eat's board rejected a higher takeover bid of 740 pence from Prosus, while stating its preference for a merger with Takeway.
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"We remain sceptical as to whether this bid will reach the required 50% shareholder threshold to be accepted and would expect a further improved bid to emerge, given Just Eat's scale and dominance in the jurisdictions in which it operates," the broker says.
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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.
com.
"We remain sceptical as to whether this bid will reach the required 50% shareholder threshold to be accepted and would expect a further improved bid to emerge, given Just Eat's scale and dominance in the jurisdictions in which it operates," the broker says.
Copyright (c) 2019 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.