Euronext: Deutsche Bank upgrades stock, raises TP

(CercleFinance.com) - Deutsche Bank has upgraded Euronext shares from 'hold' to 'buy', with a target price raised from E83 to E104, judging that its underperformance relative to peers and the market now creates a compelling opportunity.


Sales growth is accelerating, and the group should highlight its improved business mix and structural growth profile at its November investor day, the broker says, which raises its forecasts.

An acceleration in growth this year and more ambitious medium-term targets should also lead to an increase in value, it continues, while pointing to a larger-than-usual discount to its global peers.


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