Hannes Leitner, an analyst from Jefferies, maintained the Hold rating on EDENRED (0MUM – Research Report). The associated price target remains the same with €29.80.
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Hannes Leitner has given his Hold rating due to a combination of factors impacting EDENRED’s outlook. The focus is on the anticipated performance in the first quarter of 2025, where no significant surprises are expected. This is largely due to identified challenges in the Benefits & Rewards Services segment, particularly in regions like Belgium and in gift solutions, as well as in Corporate Solutions, such as CSI.
Additionally, there are subdued trends in the Mobility segment, attributed to low macroeconomic activity. Although the closure of the Italian IP might provide some support, there are concerns that broader macroeconomic issues could impede recovery in the second half of the year. As a result, the Hold rating reflects a cautious stance given the potential risks to the anticipated recovery.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of 0MUM in relation to earlier this year.