Edenred: Oddo BHF raises target price
(CercleFinance.com) - Oddo BHF maintains its "outperform" rating on Edenred shares, increasing its target price for them from E64.
5 to E68, after the group announced its strategic acquisition of Reward Gateway, a quality asset that is in line with the company's growth strategy.
While Edenred acknowledges that the acquisition multiple may appear high at first sight, the broker highlights the target's financial metrics as very solid, in a promising market.
2023 should be another buoyant year for Edenred, with significant catalysts (consensus upgrades, significant M&A) that are not reflected in the share's current price, it says.
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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.
5 to E68, after the group announced its strategic acquisition of Reward Gateway, a quality asset that is in line with the company's growth strategy.
While Edenred acknowledges that the acquisition multiple may appear high at first sight, the broker highlights the target's financial metrics as very solid, in a promising market.
2023 should be another buoyant year for Edenred, with significant catalysts (consensus upgrades, significant M&A) that are not reflected in the share's current price, it says.
Copyright (c) 2023 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.