Sixt: Stifel lowers target price

(CercleFinance.com) - Stifel maintains its 'hold' recommendation on Sixt shares, with a price target reduced from E104 to E84.


The analyst believes that the 13% drop in the median outlook for 2024 EBT came as 'a drastic surprise' last Friday, especially as no radical macro-economic changes had been observed.

In concrete terms, Sixt is now targeting an EBT 2024 of between E350m and E450m, compared with a previous range of E400m to E520m.

We see a loss of investor confidence due to the profit warning, the broker says, which believes that despite the share's fall on Friday (-12.7%), there is no need to rush into the stock.

Stifel says that the share's fall is also linked to the lowered outlook for Q2, with EBT expected to between E60m and E90m, i.e. 43% below Q2 2023.


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