Rightmove : A solid set of 2021 results, but the stock is rather unattractively valued
>Solid 2021 results and 2022/2023e EPS estimates raised by ~2%, but the stock is not very attractively valued – Underperform rating reiterated - We have raised our 2022/2023e EPS estimates by ~2% following the solid 2021 results and guidance for price hikes in 2022 that exceeded our expectations (+£ 95-105 vs our forecast of +£ 90). We nevertheless remain at Underperform on the stock and have kept our TP at 630p. This is because the stock seems unattractively valued a...Rightmove operates as an online property portal. Co. provides consumers with a place to search and research U.K. property and by providing its customers a place to reach home hunters. Co.'s segments are: The Agency, which provides resale and lettings property advertising services on Co.'s platforms; and The New Homes, which provides property advertising services to new home developers and housing associations on Co.'s platforms. Co.'s customers are primarily estate agents, lettings agents and new homes developers advertising properties for sale and to rent. Co. also provides software, delivering data, market insight and tools that provides insight, analysis and risk assessment tools.
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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