Euronext: Credit Suisse still a buyer
(CercleFinance.com) - Euronext published Q1 2023 results after trading on 16 May.
Following the release, Credit Suisse confirms its Outperform rating on the stock with a target price of E88.
The analyst points out that Adjusted EBITDA was 2% ahead of Credit Suisse and consensus expectations, thanks to a slightly better-than-expected cost performance in the quarter.
"Following the unsuccessful attempt to acquire Allfunds, we remain watchful for other diversification / growth enhancing deals," Credit Suisse says.
"ENX is inexpensive vs. exchange peers and its own trading history, in our view. We expect this discount to narrow over time as ENX delivers against its synergy and growth plans and demonstrates continued M&A discipline," the broker adds.
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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.
Following the release, Credit Suisse confirms its Outperform rating on the stock with a target price of E88.
The analyst points out that Adjusted EBITDA was 2% ahead of Credit Suisse and consensus expectations, thanks to a slightly better-than-expected cost performance in the quarter.
"Following the unsuccessful attempt to acquire Allfunds, we remain watchful for other diversification / growth enhancing deals," Credit Suisse says.
"ENX is inexpensive vs. exchange peers and its own trading history, in our view. We expect this discount to narrow over time as ENX delivers against its synergy and growth plans and demonstrates continued M&A discipline," the broker adds.
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.