Elis initiated with a Buy at Jefferies

Jefferies analyst Simon Lechipre initiated coverage of Elis (ELSSF) with a Buy rating and EUR 30 price target The stock’s investment story offers a combination of a resilient profile and a compelling medium-term growth framework, with upside risk from the shift in capital allocation policy, the analyst tells investors in a research note. Elis’s stronger operating and balance sheet profile and consistent delivery on the growth algo should also warrant valuation multiples expansion for the stock, Jefferies added.