Deutsche Bank announced on Monday that it had raised its price target for Elis from 23 to 25 euros, while renewing its buy recommendation on the stock.

In a research note, the analyst points out that the industrial laundry group should generate earnings per share (EPS) this year 77% higher than in 2019.

Despite this, its share price today is less than 10% higher than at the start of 2020, he points out, adding that in the meantime the debt-to-equity ratio has nonetheless been halved and free cash flow more than doubled.

The stock is excessively cheap, in our opinion", concludes the intermediary, believing that the market is underestimating the beneficial effect of lower energy prices on its results.

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