UBS confirms its buy recommendation on the share, but lowers its target price to E50 (from E66). This new target still represents a potential upside of 44%.

'The adjustment of estimates enables us to be in line with forecasts for 2024E; we maintain our Buy rating with a price target of EUR 50', says UBS.

Edenred had clarified its targets for 2024, with EBITDA now expected to be between 1.23 and 1.3 billion euros, compared with 1.09 billion in 2023. It also reiterated its ambition to achieve total revenues of over five billion euros by 2030.

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