Deliveroo: Credit Suisse raises target price
(CercleFinance.com) - Credit Suisse maintains its Outperform rating on Deliveroo shares, while raising its target price from 141 pence to 144 pence.
Following the group's Q4 2022 trading update, Credit Suisse noted a number of strengths, regarding Deliveroo, including gross margin which came as a clear pleasant surprise.
The analyst calls the guidance "reassuringly explicit and sensibly positioned." He concludes, "We see the group as an undervalued, consistent innovator and executor with a strong balance sheet with heightened cash returns likely".
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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.
Following the group's Q4 2022 trading update, Credit Suisse noted a number of strengths, regarding Deliveroo, including gross margin which came as a clear pleasant surprise.
The analyst calls the guidance "reassuringly explicit and sensibly positioned." He concludes, "We see the group as an undervalued, consistent innovator and executor with a strong balance sheet with heightened cash returns likely".
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.