Adevinta : Cautious message on automotive in the short term but a severe sell-off in view of the still-solid fundamentals
>Yesterday’s sell-off looks overdone and the CMD could help reaffirm the long-term outlook, which is very solid – NOK 210 target price maintained - Adevinta's share price was down 7% yesterday on the group’s cautious message on the auto segment (supply tensions set to continue into H1 2022). We have thus adjusted our forecasts on the auto segment (39% of sales), which gives 2021-2022 growth of 10.7%-11.8% (vs 11.2%/12.2%), while the pre-announcement consensus was at 1...
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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