Stifel maintains its 'hold' recommendation on Sixt shares, with a price target reduced from 104 to 84 euros.

The analyst believes that the 13% drop in the median outlook for EBT 2024 came as 'a drastic surprise' last Friday, especially as no radical macro-economic changes had been observed.

In concrete terms, Sixt is now targeting an EBT 2024 of between €350 and €450 million, compared with a previous range of €400 to €520 million.

We see a loss of investor confidence due to the profit warning", says the broker, who believes that despite the share's fall on Friday (-12.7%), there is no need to rush into the stock.

According to Stifel, the share's fall is also linked to the lowered outlook for Q2, with EBT expected to be between 60 and 90 ME, i.e. 43% below that of Q2 2023.

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