(Boursier.com) — Significantly up yesterday, Edenred returns 1.5% to 46.20 euros this Friday, after its quarterly publication. The specialist in meal vouchers published operational turnover up 18.8% to 625 million euros in the first quarter, slightly above expectations. Organic growth stood at 16.9%, well above market expectations of 14.6%.
The group has confirmed its 2024 objectives, namely growth in earnings before interest, taxes, depreciation and amortization (Ebitda) on a comparable basis greater than 12% and a conversion rate of Ebitda into free cash flow greater than 70%. .
Among the latest broker opinions, Citigroup remains ‘neutral’ on Edenred with an adjusted target of 51 to 52 euros. “Resilient demand and the largely ‘under-penetrated’ market the company serves suggest a continuation of the growth trends seen today and add weight to our 13.5% organic growth forecast for fiscal 2024 “, commented Bryan Garnier. The broker is ‘buy’ on the file with a target of 70 euros.
©2024 Boursier.com