(CercleFinance.com) – Edenred announced total revenue of 685 million euros for the first quarter of 2024, up 21.4% (+20.5% on a comparable basis).
Following this announcement, UBS reiterates its purchase advice on the stock and leaves its price target unchanged at E72, which represents an upside potential of 55%.
‘Edenred posted solid results in the first quarter, with operational revenue up (+17%) and accelerating growth in Latin America (+22%)’ indicates UBS.
Confident in maintaining a sustained pace of growth, Edenred confirms the objectives of its Beyond 22-25 plan for 2024, namely organic EBITDA growth of more than 12% and an FCF/EBITDA conversion rate greater than 70%.
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