Basic-Fit N.V.: Disciplined Growth, Consensus Upside and Undemanding Valuation Support Buy Rating

Analyst James Wheatcroft of Jefferies maintained a Buy rating on Basic Fit N.V., retaining the price target of €28.00.

James Wheatcroft has given his Buy rating due to a combination of factors that highlight both solid execution and attractive valuation. He notes that Basic-Fit’s preliminary update for FY25 points to results broadly matching management guidance and market expectations, demonstrating operational reliability. The company’s new targets for FY26, including the contribution from the Clever Fit acquisition, imply meaningful upside versus current consensus on both revenue and underlying EBITDA, signalling stronger-than-anticipated earnings momentum. At the same time, the shares trade on a relatively low multiple of around 8x FY26 expected EV/EBITDA, which he views as undemanding in light of the growth profile.

Wheatcroft also points to the company’s ability to hit key financial metrics such as revenue and EBITDA within guided ranges, while still generating positive free cash flow, as evidence of disciplined growth. The upcoming full-year results, trading update, and capital markets day are seen as potential catalysts to further communicate the medium-term strategy and underpin confidence in the outlook. Overall, the combination of guidance-led visibility, upside to consensus from operational and M&A-driven growth, and a discounted valuation underpins his Buy recommendation on Basic-Fit N.V.