ADP: Stifel reiterates buy rating after results
(CercleFinance.com) - Stifel reiterates its buy recommendation on the stock, with an unchanged target price of E148, following last night's earnings release.
ADP Group has published a good set of results for FY 2024, exceeding consensus expectations. This performance is thanks to continued traffic growth, the success of the Extime strategy and the sustained growth of TAV, Stifel says.
Forecasts for FY 2025 are unsurprising, with only an increase in Extime spending by PAX and the downward revision of capex. However, the pleasant surprise could come from TAV Airports, offering potential for an upward revision of our estimates, it adds.
The analyst believes that the gradual end of unfavourable elements could lead to a revaluation of the share, after two years of underperformance.
The French political environment remains the main unfavorable element for the time being.
Copyright (c) 2025 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.
ADP Group has published a good set of results for FY 2024, exceeding consensus expectations. This performance is thanks to continued traffic growth, the success of the Extime strategy and the sustained growth of TAV, Stifel says.
Forecasts for FY 2025 are unsurprising, with only an increase in Extime spending by PAX and the downward revision of capex. However, the pleasant surprise could come from TAV Airports, offering potential for an upward revision of our estimates, it adds.
The analyst believes that the gradual end of unfavourable elements could lead to a revaluation of the share, after two years of underperformance.
The French political environment remains the main unfavorable element for the time being.
Copyright (c) 2025 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.