Jefferies analyst James Wheatcroft downgraded the rating on Better Collective A/S (BETCO – Research Report) to a Hold today, setting a price target of SEK120.00.
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James Wheatcroft’s rating is based on a combination of factors including revised estimates and a lack of catalysts for Better Collective A/S. The company’s medium-term guidance has been adjusted, and there is uncertainty in two of its main markets. Despite the low valuation at 7.3x EV/EBITDA for FY25E, there are no immediate catalysts to drive significant stock price growth. Additionally, while a new focus on capital allocation towards share buybacks and debt reduction may offer some support to the share price, substantial investor interest is unlikely to re-emerge until positive trends in Brazil and North America are observed, which is not expected until FY26E.