(CercleFinance.com) – The stock ends the session up 1.7% as Berenberg raised its price target from 19 to 20 euros, while reiterating its advice to buy the value .
In a research note, the intermediary points out that the activity of the specialist in cleaning and cleanliness has now recovered well, which means that the stock market price should follow in turn.
‘Thanks to much higher than expected revenues in the fourth quarter, Elis’ turnover is now back above its levels of the fourth quarter of 2019, that is to say before the pandemic’, underlines the analyst.
“At the same time, the share price still remains around 15% below its January 2020 levels,” he notes.
“As a result, the title is now too cheap, from our point of view, especially since we believe that the group is emerging from the epidemic stronger than it entered it,” he adds. .
Berenberg adds that the group should benefit from underlying trends in favor of hygiene and the monitoring of cleanliness among its customers, as well as the rise of ESG criteria.