Pantelakis Securities -Jumbo (OW, TP: €24.0/sh)
Jumbo
- Poised for back-to-back net profit high of €236m in FY22, thanks to double-digit sales growth and stronger gross margin…
- …, in defiance of surging shipping costs. Further re-rating warranted, on enhanced earnings visibility and less risky profile
- OW, with €24.0/sh TP; compellingly priced at 6.7x ex-cash 2023e P/E and 4.9x EV/EBITDA, offering 7.2% DY and 8.8% FCFY
Spiros Tsangalakis
Analyst
Pantelakis Securities SA
+30 210 6965 212
spiros.tsangalakis@pantelakis.gr
Analyst
Pantelakis Securities SA
+30 210 6965 212
spiros.tsangalakis@pantelakis.gr