Adevinta : Slightly disappointing 2023 guidance but outlook broadly unchanged in the short and medium term
>Outperform rating maintained, target price of NOK 105 (vs NOK 110) - Adevinta’s share price shed 3% yesterday following its slightly underwhelming 2023 guidance (2% below the consensus for EBITDA). Nonetheless, we note a solid Q4, highlighting the group’s resilience (10% growth in its core markets). We are confident the group can keep up this pace of growth even in tougher market conditions (the main risk relates to advertising, ~20% of sales, but it is already down ...
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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