Edenred: UBS initiates coverage as a buyer

(CercleFinance.com) - UBS initiates coverage of Edenred with a Buy rating.


"We initiate coverage of Edenred with a Buy rating and EUR78 target" it says.

"In the current inflationary environment, we favour Edenred's resilient income streams, such as interest income, positive exposure to fuel prices (Crude ~+15% from July 1), and employee benefits," the broker adds.

Edenred now expects to generate 2023 EBITDA in the upper half of the E1,020m to E1,090m range announced on 25 July 2023.



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