(News Bulletin 247) – Credit Suisse reiterates its ‘outperformance’ opinion on Verallia while raising its price target from 39 to 46 euros, pointing to ‘positive outlook on the improvement of the price/cost spread in a slowdown environment volumes’.
The broker raises its 2023 and 2024 estimates by an average of 12% for net income and 11% on average for EBITDA, and adopts a higher 2023 EV/EBITDA peer multiple applied to its valuation framework (7.5 times versus 7.1 times).
According to him, Verallia trades at a discount of 24% compared to its peers, which is “unjustified given its superior operating performance, its debt below the sector average and an attractive dividend yield of 4 ,1%’.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
_190130.jpg?fit=%2C&ssl=1 "Kvaratshelia: “I have made my dreams come true, everything in life is possible with self-confidence and will”")
_203748.jpg?fit=%2C&ssl=1 "Olympiacos was nervous, but this year’s Champions League started with a victory on penalties")
