Prosus

Note: This is a daily stock update and the information stands true as of 24/02/25, 09:00 CET.

Company update:
Prosus is making a bold bet with its $4.1 billion acquisition of Just Eat Takeaway.com, further cementing its global food delivery empire. But scale alone doesn’t guarantee profitability. Just Eat’s latest results reveal a company still struggling—despite beating EBITDA expectations, revenue declined, and losses were far worse than anticipated. With weak 2025 guidance, this deal looks less like a surefire win and more like a high-risk gamble. Prosus is banking on AI and investment to turn things around, but whether this is a turning point or just another costly experiment remains to be seen.

Expert opinion: 
Tencent remains the name of the game for Prosus as the stake represents 76% of its GAV. Yet the development in food delivery is interesting but risky. They believe that Just Eat takeaway is undervalued and that the European market will eventually be like the US or China where food delivery is huge. The investment in Prosus remains predicated on a belief that Tencent share price will keep rising. The bounce of the share price (be it Tencent or Prosus) was already significant. I have no strong opinion on the share but one of our analyst sees still 30% upside on the name and has a target price of almost €60 per share.

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