ALD: Credit Suisse raises its target price

(CercleFinance.com) - Credit Suisse reinstates its "outperform" rating on the ALD share, increasing its corresponding target price from 12.
2 euros to 13.5 euros, believing that the mobility services group's growth opportunities "remain intact".

"Car sales results will be increasingly less relevant, with new opportunities emerging from used-car leases, new customer segments and geographic expansion," the broker says.

Credit Suisse expects ALD's vehicle fleet to grow at a rate of over 7% p.a. from 2023, which it says should help it reach its target of 2.3 million contracts by 2025.


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