Scout24 : An exaggerated decline and an attractive valuation vs Rightmove
>A number of unfavourable cyclical elements, but fundamentals still intact - Outperform recommendation and target price of € 80 maintained - Over the past month Scout24's share price has lost 15%. In our view, this underperformance is due to the unfavourable market (classifieds stocks down 5% over one month), political (uncertainty surrounding the elections in Germany) and sector (supply/demand imbalance in the market) context. We got an update from management and rem...Scout24 AG, formerly Asa NewCo GmbH, is a Germany-based holding company engaged in the Internet services industry. Through its subsidiaries, the Company provides digital classified advertisement platforms in Germany and other European countries, notably Scout24.com, ImmobilienScout24.de and Autoscout24.com. The Company owns the automotive classifieds Websites AutoScout24.nl and European AutoTrader BV, and the real estate online portals my-next-home.de and immodirekt.at, as well as an online comparison portal for consumer loans FINANZCHECK.de.
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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