URW: upbeat with analysts' comments
After a roadshow with senior management, the analyst said he was "convinced that a page has been turned", pointing to the group's confidence in continuing to grow revenues in 2024 and beyond, as well as the share's still significant upside potential.
Similarly, Invest Securities reaffirms its 'buy' recommendation on URW, which it deems 'intrinsically undervalued', while raising its target price from €79 to €84, due to the inclusion of lower financial expenses.
However, the analyst recognizes that "the recovery in distribution is at a low level, with a commitment to rise in line with divestments, limiting visibility on a share that is suffering from the absence of a reliable timetable for divestments in the United States".
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