(CercleFinance.com) – Oddo BHF reiterates its ‘outperformance’ opinion on Elis with an adjusted target price of 19.4 to 18.6 euros, despite 2022/2023 EPS estimates raised by 6% on average for the group of industrial laundry.
‘Organic growth in 2022 should accelerate, making management’s objectives too cautious’, judges the analyst, for whom ‘Elis benefits from the continued recovery of the hotel and catering segment and price increases intended to offset additional costs ‘.
‘The FCF should, in our opinion, exceed 200 million euros in 2022, bringing the ND/EBITDA leverage ratio to approximately 2.6 times (compared to three times in 2021) and allowing the payment of a dividend and a more external growth policy active’, he continues.
Copyright © 2022 CercleFinance.com. All rights reserved.
The information and analyzes disseminated by Cercle Finance only constitute a decision-making aid for investors. The responsibility of Cercle Finance cannot be held directly or indirectly following the use of information and analyzes by readers. It is recommended that any uninformed person consult a professional adviser before any investment. This indicative information does not in any way constitute an incitement to sell or a solicitation to buy.
Did you like this article ? Share it with your friends with the buttons below.
