Getlink: Oddo still a buyer

(CercleFinance.com) - Oddo maintains its "outperform" rating on Getlink shares, with an unchanged target price of 15.
7 euros.

Getlink reported Q4 revenues that are down 26% relative to 2019, at 225.1 million euros, slightly ahead of the consensus (E222.9m) and Oddo's estimate (E206.6m).

Performance was mainly penalised by the 35% drop in rail network revenues (consensus expected
-42%), impacted by a 62% drop in Eurostar traffic vs. 2019 (although +484% vs. 2020), the analyst points out.

According to Oddo, Getlink retains its speculative appeal: saying that in the medium term, the group has a reservoir of growth - both in shuttles (pricing, market share gains) and in Eurostar (opening of new lines) - with, on top of this, the potential for cost optimisation.


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