Euronext: a buyer, Credit Suisse raises target price.
(CercleFinance.com) - Although the Euronext share has already risen by over 25% y-t-d, Credit Suisse still believes that it can rise further.
Confirming their buy ("outperform") rating on the stock, this morning their analysts raised their target price from 51 euros to 54 euros.
According to a research note, the pan-European stockmarket operator published strong Q2 results (which exceeded expectations), while Q3 is expected to be marked by robust trends in volumes. This should gradually add credibility to management's targets.
Credit Suisse also distinguishes Euronext for its ability to increase its revenues in organic terms. This is mainly due to the barriers to entry that the group enjoys in terms of share listings, market data and derivatives. Credit Suisse considers that this factor is underestimated by the consensus, and which is also combined with the group's well controlled costs.
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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.
Confirming their buy ("outperform") rating on the stock, this morning their analysts raised their target price from 51 euros to 54 euros.
According to a research note, the pan-European stockmarket operator published strong Q2 results (which exceeded expectations), while Q3 is expected to be marked by robust trends in volumes. This should gradually add credibility to management's targets.
Credit Suisse also distinguishes Euronext for its ability to increase its revenues in organic terms. This is mainly due to the barriers to entry that the group enjoys in terms of share listings, market data and derivatives. Credit Suisse considers that this factor is underestimated by the consensus, and which is also combined with the group's well controlled costs.
Copyright (c) 2017 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.