Prosus: Goldman Sachs initiates coverage with buy rating
(CercleFinance.com) - Goldman Sachs has begun to monitor the share of Dutch group Prosus, adopting an initial buy rating, along with a target price of 90 euros.
"We view Prosus as one of the most compelling investment opportunities in Europe," the broker says in a note. Note that Prosus is a 72%-subsidiary of the South African group Naspers, which notably hosted in its listed subsidiary in Europe its stake of about 30% in the Chinese Internet giant Tencent.
Goldman Sachs points out that Prosus is the largest and most dynamic Internet stock available in Europe, making it a rare investment. In addition, the share is trading at a 23% discount on its restated NAV.
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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.
"We view Prosus as one of the most compelling investment opportunities in Europe," the broker says in a note. Note that Prosus is a 72%-subsidiary of the South African group Naspers, which notably hosted in its listed subsidiary in Europe its stake of about 30% in the Chinese Internet giant Tencent.
Goldman Sachs points out that Prosus is the largest and most dynamic Internet stock available in Europe, making it a rare investment. In addition, the share is trading at a 23% discount on its restated NAV.
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.