Edenred: Deutsche Bank raises TP

(CercleFinance.com) - On Wednesday Deutsche Bank nudged up its target price for Edenred shares, saying that it expected Q3 sales to confirm the group's resilience.


In its morning comments, the broker said it had raised its target price for the share from E68 to E69, while reiterating its buy rating on the stock.

The analyst - who considers Edenred to be a growth stock with a "defensive" profile - sees the inventor of the luncheon voucher ("ticket restaurant") continuing to post solid growth, which leads him to raise his Ebitda forecasts, which remain above those of the consensus.

Deutsche Bank also said it expects next month's publication to see a possible tightening - or even a slight upward revision - of the Group's annual Ebitda targets.

Edenred is scheduled to announce its Q3 sales on 19 October.


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