Rexel: Stifel gives big boost to target price
(CercleFinance.com) - Stifel maintains its "hold" recommendation on Rexel shares, although has sharply increased its target price for the share from 7 euros to 18.
3 euros (current price: c. 17.5 euros, +0.8%).
The broker bases this upgrade on Rexel's recent CMD, which it considered "convincing" and acknowledges that it probably underestimated the positive impact of automation and digitalisation in the past.
"Ahead of its Q1 sales release (due 22 April), we update our estimates to reflect Rexel's short and medium term ambitions shared during its CMD," the analyst said.
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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.
3 euros (current price: c. 17.5 euros, +0.8%).
The broker bases this upgrade on Rexel's recent CMD, which it considered "convincing" and acknowledges that it probably underestimated the positive impact of automation and digitalisation in the past.
"Ahead of its Q1 sales release (due 22 April), we update our estimates to reflect Rexel's short and medium term ambitions shared during its CMD," the analyst said.
Copyright (c) 2021 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.