(News Bulletin 247) – Deutsche Bank raised its price target on Edenred on Thursday from 67 to 68 euros, still seeing upside potential in the stock despite the slowdown in the French group’s growth.
The German bank, which maintains its buy recommendation on the title, says it expects the prepaid services specialist to announce, on July 25, a half-yearly turnover up 23.7% to 1.14 billion euros.
Regarding EBITDA, DB anticipates a result of 470 million euros for the first half, above the consensus which is currently targeting 464 million euros.
In terms of debt, Edenred should see its debt climb to 1.2 billion euros at the end of June, against 307 million euros at the end of 2022, due to the acquisition of Reward Gateway, adds the German establishment.
Regarding the outlook, while Edenred has set itself the goal of increasing its like-for-like EBITDA by more than 12% in the medium term, the consensus is for growth of 17.5% to 25.5% for this year, underlines Deutsche Bank.
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