In a report released today, Benjamin Kohnke from Stifel Nicolaus maintained a Buy rating on Delivery Hero SE (DHER – Research Report), with a price target of €50.00.
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Benjamin Kohnke has given his Buy rating due to a combination of factors that highlight Delivery Hero SE’s strong market position and financial performance. The company has demonstrated robust growth in Europe, with a notable increase in gross merchandise value and a significant reduction in adjusted EBITDA losses over recent quarters. This financial momentum positions Delivery Hero well to handle competitive pressures, particularly in markets where it overlaps with JustEatTakeaway.com, which is set to receive increased investment from Prosus.
Furthermore, Prosus’s decision to acquire JustEatTakeaway.com instead of Delivery Hero suggests confidence in Delivery Hero’s existing strategy and market presence. With Prosus already holding a substantial stake in Delivery Hero, the likelihood of a third-party acquisition is limited, providing stability. Additionally, Delivery Hero’s guidance towards achieving break-even in the near future, despite planned investments, further supports the positive outlook and justifies the Buy rating.