Edenred : Edenred, a payment services stock which offers very solid growth prospects and still significant scope for re-rating
We have upgraded our recommendation for Edenred to Buy and our target price to € 60.0. The group, now part of the payment services universe, should continue to deliver solid growth in underpenetrated niche markets, with considerable scope to improve its profitability whilst at the same time maintaining significant FCF generation. The current valuation nonetheless remains discounted vs the payment services sector. - >Buy recommendation (vs Neutral) target price raised to € ...Edenred designs and delivers services to clients, companies or public sectors, enabling them to offer beneficiaries additional purpose-directed purchasing power, such as the Ticket Restaurant® meal voucher, and provides prepaid corporate services. Co.'s product offering ensures that allocated funds are used as intended, allowing its clients to manage: Employee benefits (Ticket Restaurant®, Ticket Alimentacion®, Ticket CESU, Childcare Vouchers®, etc.); Expense management process (Ticket Car®, Ticket Clean way®, Repom®, etc.); and Incentive and rewards programs (Ticket Compliments®, Ticket Kadeos®, etc.). Co. also supports public institutions in managing their social benefits programs.
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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