Elis: Stifel adjusts target price

(CercleFinance.com) - Stifel reaffirms its 'buy' recommendation on Elis shares, while adjusting its target price for them from E25 to E24, following a meeting with senior management, which resulted in "the message was positive with 'safe' top-line trends and limited uncertainties on the margin side".


The broker makes minor adjustments to its 2024-26 adjusted EPS, and reduces its free cash flow expectations for the industrial laundry group: "EPS and reduce our FCF expectations on the back of higher tax rates, capex and interest expenses".


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