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Allegro : Disappointment on the margin could reflect greater-than-expected competitive pressure – Underperform rating confirmed
>Underperform rating confirmed – TP lowered to PLN 30 (vs PLN 40) - Allegro shares closed down 14% yesterday, mainly due to disappointment on the Q4 2021 EBITDA margin, with EBITDA 10% below expectations. The invasion in Ukraine (which borders Poland) and the resignation of the CEO (who will remain until the end of the year) probably also played a role in the volatility of the share price yesterday. Ultimately, we have drawn three conclusions from the numbers: 1) the ...
Underlying
Allegro.eu SA
Provider
Oddo BHF
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.
Martin Marandon-Carlhian
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