(News Bulletin 247) – Credit Suisse initiates its coverage on Dufry with an Outperformance rating and a target price of 45CHF.
‘We believe that Dufry will continue to benefit from positive growth’, begins the analyst.
“Our guidance is about 6% above consensus for revenue, EBITDA CORE and EPS over 2023-26, and 3.9% for free cash flow over 2025-26,” adds he.
“We expect concession fees to continue to increase, but we believe the new Dufry will offset these increases with gross margin expansion through favorable mix effects,” the broker said.
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