Bernstein downgrades Elis amid concerns over Vestis acquisition By Investing.com
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 11 2024
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Source: Investing.com
Analyst Downgrade: Bernstein downgraded Elis Services from "Outperform" to "Perform," lowering the price target from €27.60 to €21.40 due to concerns about the risks associated with its acquisition of Vestis, which may limit financial flexibility and dilute EBITDA margins.
Growth Projections: Despite solid revenue growth projections for 2024, Bernstein adjusted organic growth estimates down to 5.5%, highlighting potential long-term challenges in realizing benefits from the Vestis acquisition.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
