EPS CHANGE CHANGE IN TARGET PRICE CHF 250 vs 235 +6.56% Our change in target price on Swissquote reflects mostly the upgrade to our 2024 EPS estimate which has led to an increase in our 3-year average EBITDA estimate to which we apply a 10x multiple for our NAV valuation. We continue to believe that Swissquote can thrive in any environment thanks to its business model where high rates act as a natural hedge to volatility and a trading activity decline. Based on the assumption of sustain ....