Euronext: Jefferies maintains rating and TP
(CercleFinance.com) - Jefferies maintains its Buy rating on Euronext, as well as its target price of E100.
"We think there is scope for the shares to begin to re-rate back to their LT avg. of ~15x, if as we expect, ENX continues to execute flawlessly on the remaining BI integration / synergies," the analyst says.
"For longer-term holders, we see material value creation potential from M&A involving strategic pieces of EU market infrastructure".
There is a limited range of plausible buyers for such assets, particularly post-Brexit, "and ENX strongly positioned to be a consolidator".
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"We think there is scope for the shares to begin to re-rate back to their LT avg. of ~15x, if as we expect, ENX continues to execute flawlessly on the remaining BI integration / synergies," the analyst says.
"For longer-term holders, we see material value creation potential from M&A involving strategic pieces of EU market infrastructure".
There is a limited range of plausible buyers for such assets, particularly post-Brexit, "and ENX strongly positioned to be a consolidator".
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.