Prosus: Goldman Sachs initiates coverage with buy rating
(CercleFinance.com) - Goldman Sachs has begun to monitor the share of Dutch group Prosus, adopting an initial buy rating, along with a target price of 90 euros.
"We view Prosus as one of the most compelling investment opportunities in Europe," the broker says in a note. Note that Prosus is a 72%-subsidiary of the South African group Naspers, which notably hosted in its listed subsidiary in Europe its stake of about 30% in the Chinese Internet giant Tencent.
Goldman Sachs points out that Prosus is the largest and most dynamic Internet stock available in Europe, making it a rare investment. In addition, the share is trading at a 23% discount on its restated NAV.
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