AUTO1 : Increasing operating leverage drives profitability
>Another earnings beat warrants upgrade to Neutral - After delivering Q1 results that were above expectations, AUTO1 delivered Q2 results that were once again above expectations. As a result, we raise our top line and gross profit estimates for 2024e, 2025e and 2026e while keeping our opex expectations stable. This leads to increased operating leverage and a disproportional increase in adj. EBITDA. Hence, we upgrade our recommendation from Underperform to Neutral and ...
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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