(News Bulletin 247) – Euroland initiated coverage of Deezer shares on Thursday with an intrinsic value (‘fair value’) established at just three euros per share.
In a research note, the brokerage firm points out that the pioneering music streaming platform, created in 2007, now has strong positions in France, where it is number two in the market, and in Brazil, with a third position. sector player.
If Euroland believes that the company now enjoys a ‘central’ place within the segment, its analysts also believe that it is now well positioned to accelerate in its market.
‘With a renewed management team, the group has set itself concrete objectives for the coming years’, they point out, recalling that the company is aiming for significant annual growth over the next three years.
Deezer is also targeting a positive cash flow generation in 2024 and reaching a positive adjusted Ebitda in 2025, they continue.
For the current financial year, Euroland says it expects a turnover of 492.8 million euros, representing growth of 9.2%.
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