Getlink: shares fall after UBS downgrade

(CercleFinance.com) - Getlink, formerly known as Groupe Eurotunnel, fell sharply on Monday after UBS downgraded the stock, citing "limited valuation upside," albeit inching up its target price for the share.


UBS said it has downgraded its rating on the Channel Tunnel operator from "buy" to "neutral," with a new target price of 12 euros, from 11.50 euros.

While the broker sees upside to consensus expectations around passenger traffic on the London-Amsterdam route, it also sees downside on the contribution from the ElecLink project.

Getlink shares are currently trading 1.6% down at 11.6 euros, significantly underperforming the French stockmarket (-0.7%).

Copyright (c) 2018 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.