D'Ieteren: Jefferies downgrades stock
(CercleFinance.com) - Jefferies downgrades its recommendation on vehicle distribution D'Ieteren Group's shares from 'buy' to 'hold', with a target price reduced from E250 to E225, pointing to a sharp rise in debt for the Belgian group following the reorganization of its family shareholding.
The reorganization of the family shareholding will be financed by a dividend of E4bn from the D'Ieteren group, leading to an additional debt of E1.8bn euros at ownership, the broker summarises.
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The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
The reorganization of the family shareholding will be financed by a dividend of E4bn from the D'Ieteren group, leading to an additional debt of E1.8bn euros at ownership, the broker summarises.
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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.