Securitas: Credit Suisse upgrades stock
(CercleFinance.com) - Credit Suisse has upgrade its rating on Securitas shares to "Outperform" from "Neutral", sticking to its target price of 165 Swedish kronor (upside potential), while nudging up its 2022 earnings estimate for the Swedish private security group by 1%.
The broker believes that the consensus fails to reflect the benefits relating to its transformation programs: its own 2021-23 EBITA forecast is 3%-5% above the consensus for this period.
According to Credit Suisse, "the current share price is discounting no margin improvements from the lows of 2020 despite solid progress in H121 and the tangible tailwinds from the transformation programmes in the coming years".
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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.
The broker believes that the consensus fails to reflect the benefits relating to its transformation programs: its own 2021-23 EBITA forecast is 3%-5% above the consensus for this period.
According to Credit Suisse, "the current share price is discounting no margin improvements from the lows of 2020 despite solid progress in H121 and the tangible tailwinds from the transformation programmes in the coming years".
Copyright (c) 2021 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.