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.
Analyst Views on ELIS
Wall Street analysts forecast ELIS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ELIS is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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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.
