EDENRED : Deutsche Bank slightly raises its target
September 27, 2023 at 04:48 am EDT
Share
Deutsche Bank announced on Wednesday that it had slightly raised its target price for Edenred, saying it expected third-quarter sales figures to confirm the group's resilience.
In a note released this morning, the financial intermediary said it had raised its target from 68 to 69 euros, while reiterating its buy recommendation on the stock.
The analyst - who considers Edenred to be a growth stock with a "defensive" profile - sees the inventor of the luncheon voucher continuing to post solid growth, which leads him to raise his Ebitda forecasts, which thus remain anchored above consensus estimates.
Deutsche Bank also said it expects next month's publication to be marked by a possible tightening - or even a slight upward revision - of the annual Ebitda targets communicated by the group.
Edenred is scheduled to announce its 3rd quarter sales on October 19.
Copyright (c) 2023 CercleFinance.com. All rights reserved. The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
Edenred SE is a leading digital services and payments platform and the everyday companion for people at work, connecting over 60 million employees and more than 2 million partner merchants in 45 countries via nearly 1 million corporate clients.
Edenred SE offers specific-purpose payment solutions for food (meal benefits), incentives (gift cards, employee engagement platforms), mobility (multi-energy, maintenance, toll, parking and commuter solutions) and corporate payments (virtual cards). These solutions enhance employee well-being and purchasing power, improve companies' attractiveness and efficiency, and vitalize the employment market and the local economy.