No surprise with the Q2 numbers but the outlook has been upgraded.
We maintain our opinion at Reduce on the stock, however, with no downside. The group is indeed already valued at 25x its 2021 EBITDA, almost like its American peers (27x).
29 Jul 2021
2021 outlook upgraded by 5%
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2021 outlook upgraded by 5%
- Published:
29 Jul 2021 -
Author:
Jean-Michel Salvador -
Pages:
3
No surprise with the Q2 numbers but the outlook has been upgraded.
We maintain our opinion at Reduce on the stock, however, with no downside. The group is indeed already valued at 25x its 2021 EBITDA, almost like its American peers (27x).