Scout24 : Harsh punishment markets-wise and a poorly valued profile in our view – target price adjusted to € 75 (vs € 80), Outperform rating maintained
>Yesterday’s sell-off is overdone and we confirm our preference for Scout24 vs Rightmove – Outperform rating, target price adjusted to € 75 - Scout24 was off 9% yesterday on weaker-than-expected 2022 EBITDA guidance, which fell ~5% below forecasts. We have lowered our estimates for 2022e by 6% and reduced our target price to € 75 (vs € 80) but we confirm our Outperform rating. Indeed, we see this sell-off as harsh given that, while the short-term sequence is disappoin...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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