Report
BASIC-FIT : Fit to Buy
Since the outbreak of COVID-19, Basic-Fit’s share price had a rough ride, moving from all time high to all time low in a few days. Despite a partial recovery, we think current share price levels still offers an attractive entry point. In our opinion, the potential market opportunity remains unaltered. We also argue that the fundamental profitability drivers are intact. We forecast that liquidity is sufficient and are convinced that the risk of a capital increase has faded. With over 60% upside, we reiterate our Buy recommendation.
Underlying
Basic-Fit NV
Basic-Fit NV is an operator of fitness centers based in the Netherlands. The Company operates more than 350 fitness clubs in the Netherlands, Belgium, France and Spain.
Provider
KBC Securities
We are a financial services provider for several types of professional clients, each with distinct needs.
Alan Vandenberghe
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