As the stock market suffered from fears regarding the unknown effects of Covid-19, the Europris share dropped from NOK 36 in late February 2020 to NOK 24 in mid-March 2020. Since then, the share has rallied more than 50% while consensus estimates have remained flat. The company’s business model has once again proved to be robust in times of turmoil. The share trades at a 2021e P/E of 13.7x based on our estimates, which we argue is close to fair value.
23 Apr 2020
Quality rarely trades at a discount for long
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Quality rarely trades at a discount for long
As the stock market suffered from fears regarding the unknown effects of Covid-19, the Europris share dropped from NOK 36 in late February 2020 to NOK 24 in mid-March 2020. Since then, the share has rallied more than 50% while consensus estimates have remained flat. The company’s business model has once again proved to be robust in times of turmoil. The share trades at a 2021e P/E of 13.7x based on our estimates, which we argue is close to fair value.