Pluxee: stock dives despite higher growth target
(CercleFinance.com) - Pluxee shares plunged 11% after the quarterly trading update from Sodexo's former benefits and rewards division, which nevertheless raised its annual organic sales growth target to around +18% (from +15 to +17%).
Details suggest a publication slightly below consensus expectations, UBS says, which sees only limited short-term catalysts, and considers the stock to be fairly valued at current levels.
With sales up 14% at E297m, Q3 sales came in 2% below consensus, according to Oddo BHF, which nevertheless noted slightly better-than-expected organic growth of 17.9%.
While appreciating its profile of robust growth and operational improvement over the next few years, as well as the optionality on M&A, the broker considers that the current valuation implies only a limited discount to its main peers.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
Details suggest a publication slightly below consensus expectations, UBS says, which sees only limited short-term catalysts, and considers the stock to be fairly valued at current levels.
With sales up 14% at E297m, Q3 sales came in 2% below consensus, according to Oddo BHF, which nevertheless noted slightly better-than-expected organic growth of 17.9%.
While appreciating its profile of robust growth and operational improvement over the next few years, as well as the optionality on M&A, the broker considers that the current valuation implies only a limited discount to its main peers.
Copyright (c) 2024 CercleFinance.com. All rights reserved.