Slight fundamental cut but still our medium-term favourite
23/11/22 -"Our target price cut is mainly driven by a negative effect from the NAV update but is also negatively impacted by the peers’ valuation (P/E and EV/EBITDA). Given that we cut our fundamentals, implied ..."
Pages
59
Language
English
Published on
23/11/22
You may also be interested by these reports :
02/10/26
Following Volkswagen’s profit warning, driven by a €6bn non-cash goodwill impairment on its Porsche segment, a challenging market environment and ...
01/10/26
Since our last teaser on Ferrari (ADD; Italy) in June 2024, the group reached an all-time high of €480 in 2025, before declining 45% as the market ...
25/09/26
Adyen has gone nowhere against the market for two years (-45% vs the Stoxx 600 NR over the period), and the debate has never left volume processed ...
22/09/26
We have bitten the bullet after the H1-2026 release, and allow for more caution in our AuM and earning forecasts for 2026 and 2027, with cascading ...