Euronext: Deutsche Bank raises target price
(CercleFinance.com) - Deutsche Bank on Monday renewed its buy recommendation on Euronext shares, while raising its target price for them from E104 to E106.
In a short note, the analyst welcomes the "good" Q2 results published by the pan-European stock exchange operator, which reported organic growth of 12% at its highest level for many years, he points out in the study.
With the integration of Borsa Italiana progressing well, Euronext is - thanks to its solid business profile and strategic location - in an ideal position ahead of its November investor day, the broker adds.
Deutsche Bank, which highlights the group's favourable business momentum in the short term and the prospect of upward revisions to its medium-term targets, points out that the stock is nevertheless trading at an attractive P/E of 13.4x and an EV/Ebit multiple of 12x, well below those of its peers.
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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.
In a short note, the analyst welcomes the "good" Q2 results published by the pan-European stock exchange operator, which reported organic growth of 12% at its highest level for many years, he points out in the study.
With the integration of Borsa Italiana progressing well, Euronext is - thanks to its solid business profile and strategic location - in an ideal position ahead of its November investor day, the broker adds.
Deutsche Bank, which highlights the group's favourable business momentum in the short term and the prospect of upward revisions to its medium-term targets, points out that the stock is nevertheless trading at an attractive P/E of 13.4x and an EV/Ebit multiple of 12x, well below those of its peers.
Copyright (c) 2024 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.