(CercleFinance.com) – Berenberg renewed its ‘hold’ recommendation on Pluxee shares on Monday, accompanied by a price target of 30 euros, welcoming the recent acquisition of the Spanish start-up Cobee.
In a note, the analyst explains that the Spanish meal voucher market is currently underexploited, with a penetration rate estimated at around 10% compared to an average of 25% for the market.
‘Given the regulatory risk weighing on the sector, we believe that diversifying is fundamental and consider this operation, as well as the expansion in Spain, as a positive element,’ he adds.
Pluxee is due to publish the results of its delayed third quarter 2023/2024 on July 3.
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