Gemalto: Oddo upgrades stock.
(CercleFinance.com) - Oddo has upgraded its rating on Gemalto from "neutral" to "buy," with a target price of 46 euros, corresponding to the price offered by Atos in its planned takeover bid of the specialist in digital security.
The broker's research department considers that the bid could be completed at valuation levels that could be raised to encourage an agreement with Gemalto's board of directors (especially if there are "poison pills" relating to Dutch legislation).
For information, the growth companies that belong to the electronic payment universe in Europe are being bought out this year based on an average 2018 EV/Ebitda multiple of 14x, adds the analyst who monitors the stock.
Copyright (c) 2017 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 broker's research department considers that the bid could be completed at valuation levels that could be raised to encourage an agreement with Gemalto's board of directors (especially if there are "poison pills" relating to Dutch legislation).
For information, the growth companies that belong to the electronic payment universe in Europe are being bought out this year based on an average 2018 EV/Ebitda multiple of 14x, adds the analyst who monitors the stock.
Copyright (c) 2017 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.