Report
Flow Traders : Growing visibility on short- to medium-term triggers leads to a stock upgrade
We raise our TP to € 23.4 and switch our rating back to Outperform on FLOW. The reason for our upgrade is two-fold. In the short-term, we expect the US elections (5 November) to lead to higher market volatility and volume growth, these being the main ingredients for revenue generation. Over the medium term however, we see a path for FLOW to structurally grow its trading capital organically at a 15% CAGR, reaching € 1bn by FY 2027. - - >Upgrading to Outperform on US electio...
Underlying
FLOW TRADERS LTD
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.
Julian Dobrovolschi
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