Elis Confirms Vestis Takeover Approach
Written by Emily J. Thompson, Senior Investment Analyst
Source: WSJ
Elis's Acquisition Interest: The French company Elis has made a preliminary approach to acquire U.S. uniform supplier Vestis, aiming to expand its presence in the U.S. market.
Vestis's Market Position: Vestis, based in Roswell, Georgia, had a market capitalization of approximately $2 billion as of the last trading day.
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.
