Elis initiated with an Outperform at Bernstein

Bernstein analyst Sabrina Blanc initiated coverage of Elis with an Outperform rating and EUR 26.60 price target. The analyst expects “robust” revenue growth in 2024 driven by a mix of price effect and volumes. With the company’s churn likely to normalize in 2025, 4% annual organic sales growth is sustainable thereafter, the analyst tells investors in a research note.