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AUTO1 : Publication not enough to lift doubts on operational leverage - Underperform recommendation reiterated, target price cut to € 9
>Underperform recommendation reiterated, target price cut to € 9 (vs € 12) - The share gained 13% yesterday after a marked decline since the beginning of the year (-50%) and following a Q2 release that beat forecasts with an EBITDA close to the median point of the full-year guidance (-2.7% vs guidance for 2022 of -2.0/-3.0%), thus lending weight to the achievement of mid-range in 2022. However, we still think that operational leverage is overestimated (pricing power ...
Underlying
AUTO1 Group
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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