Rightmove : Satisfactory H1 2021 figures but no strong catalysts
>Good H1 2021 numbers but no strong catalysts – Underperform recommendation reiterated, TP raised to 630p (vs 600p) - H1 2021 figures were solid (primarily thanks to better-than-expected cost control) and we raise our 2021-2022 EPS estimates by c.3% and our target price to 630p (vs 600p). However, we reiterate our Underperform recommendation. In our view, there are no short- or medium-term catalysts for Rightmove (average revenue per advertiser already 3x higher than ...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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