Delivery Hero: persistent concerns and no short-term catalyst in sight
Post-Q1, we remain impressed by the MENA performance and sceptical about the recovery in Korea. Neutral reiterated with a EUR36 PT despite >30% upside as we see no short-term catalyst to engage a rerating from 8.3x EV/EBITDA. Mounting legal issues in Spain & Italy, an uncertain recovery in K
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.