Report
EUR 200.00
For Business Accounts Only
We have raised our T.P. by +9% to € 28.38/sh. (+16% upside) after including in our model the two acquisitions made in 4Q’22 (Transportes El Mosca and Carbó Colbatallé), which together contribute ~+23% of economic sales. We also include the impact from rate hikes on financial revenues and also the roll-over of our model. We still like the company’s high dividend yield (>6%) and reiterate our BUY recommendation. The stock has soared by +43% in the last year (+35% vs. IBEX35), meaning that profit-taking could be the reason behind the stock’s drop following the company’s earnings presentation.
LOGISTA: GOOD YIELD DESPITE A BRILLIANT RECENT PERFORMANCE (ANÁLISIS BANCO SABADELL)
We raise our T.P. by +9% to reflect the latest acquisitions, roll-over and higher financial costs. BUY.We have raised our T.P. by +9% to € 28.38/sh. (+16% upside) after including in our model the two acquisitions made in 4Q’22 (Transportes El Mosca and Carbó Colbatallé), which together contribute ~+23% of economic sales. We also include the impact from rate hikes on financial revenues and also the roll-over of our model. We still like the company’s high dividend yield (>6%) and reiterate our BUY recommendation. The stock has soared by +43% in the last year (+35% vs. IBEX35), meaning that profit-taking could be the reason behind the stock’s drop following the company’s earnings presentation.
Underlying
Logista (LOG SM)
Provider
Sabadell
Ignacio Romero
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