Analyst Constantin Hesse from Jefferies maintained a Buy rating on Sixt SE (0NW7 – Research Report) and keeping the price target at €95.00.
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Constantin Hesse has given his Buy rating due to a combination of factors that highlight Sixt SE’s strong performance and potential for growth. The company’s first-quarter results showed a notable increase in revenue, surpassing expectations, which indicates robust business operations despite some macroeconomic uncertainties. The increase in average selling prices (ASP) by 5.8% year-over-year reflects improved vehicle utilization and disciplined pricing strategies within the industry.
Furthermore, the company demonstrated a significant rise in corporate EBITDA, which grew by 90% to €48.3 million, showcasing operational efficiency and profitability. Although there was a slight miss on earnings before taxes (EBT) due to lower residuals from older fleet sales and weaker-than-expected demand in the US, the overall outlook remains positive. The solid pricing discipline in the industry and the anticipation of strong summer demand provide a favorable environment for Sixt SE’s continued success, justifying the Buy rating.