(CercleFinance.com) – Deutsche Bank raised its price target on Elis shares on Wednesday, from 25 to 25.5 euros, welcoming the materialization of the scenario in favor of a strong improvement in the group’s profit margins.
In a reaction note, the analyst – who maintains his buy recommendation on the stock – notes that the industrial laundry group reported annual turnover slightly worse than expected, at 1.08 billion euros, where the consensus anticipated 1.09 billion.
However, he argues, its operating margin (Ebitda) stood at 34.2%, against a consensus of 33.7%, thanks to its price increases and good control of its costs.
As for free cash flow (FCF), Elis declares that it anticipates it above 300 million euros for the financial year, a figure again higher than the consensus of 271 million euros.
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