Vestis falls as Elis abandons takeover efforts By Investing.com
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 04 2024
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Source: Investing.com
Vestis Share Decline: Shares of Vestis dropped over 3% after Elis announced it had ended takeover discussions, contributing to a 33% decline in Vestis's stock this year.
Elis's Strategic Focus: Elis terminated talks with Vestis and UniFirst due to financial discipline concerns but remains committed to organic growth and exploring new market opportunities.
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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Current: 17.005
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Current: 17.005
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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.
