HELLOFRESH - BUY | EUR100(+20%) Back on its feet and ready to deliver strong growth
HELLOFRESH - BUY | EUR100(+20%)Back on its feet and ready to deliver strong growth
HelloFresh stock back to its pre-profit warning level
Towards the top end of the new 45-55% growth guidance
More pressures on contribution margin over H2 21 and H1 22
Still sufficient FCF headroom to pursue M&A and set-up a shareholder return policy
Buy reiterated with a EUR100 TP
HelloFresh is engaged in the delivery of meal kits to customers in the U.S., the United Kingdom, Germany, the Netherlands, Belgium, Luxembourg, Australia, Austria, Switzerland and Canada. Co. provides portioned food and recipes, which its subscribers receive in weekly boxes. Co. provides both omnivore and vegetarian options, with fresh ingredients and chef-inspired recipes.
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.
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