(News Bulletin 247) – Invest Securities maintains its buy rating on the Toosla share, but reduces its target price on the share, from 6.48 to 4.15 euros.
“The disappointment of this publication comes from the 2022 EBITA margin (7.2%) which accumulated the constraints and slippages at the end of the year”, notes the analysis office.
Nevertheless, ‘the reassuring point is that the impacting elements are largely non-recurring and the concerns of model mix and cost of ownership seem to have already been settled’, continues the analyst.
Invest believes that these elements should lead to “a significant rebound in profitability” from the first half.
‘Post’ roll up ‘of our forecasts for 2023/26, our estimates have been very significantly revised downwards, recalling that the value of the park in ownership represents 3.5E per share’, concludes the broker.
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