Getlink: Oddo confirms rating after Q1 sales
(CercleFinance.com) - Getlink has posted sales that are up 5.
4% y-o-y in the first quarter of 2019 (+4.6% excluding FX factors) at 254.4 million euros, above the consensus (248 million euros).
The group confirms its 2022 EBITDA guidance (EBITDA exceeding 735 million euros).
Following this publication, Oddo confirms its 'buy' rating on the share, while slightly adjusting its target price to 17.1 euros. We believe that the presence of Eiffage and Atlantia in the group's capital and the potential value creation of these two groups justify the integration of a speculative premium.
Oddo has therefore raised its 2019 EBITDA estimates by 2%, saying that it remains cautious regarding growth over the rest of the year given ongoing uncertainties related to Brexit.
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