MailUp, nuova equity research da EnVent: rating OUTPERFORM e target price a 3,16 Euro
EnVent Capital Markets rende disponibile al pubblico la nuova equity research di MailUp, aggiornata in seguito alla pubblicazione del bilancio 2015. Confermato il rating OUTPERFORM, con target price a 3,16 Euro.
Commentano gli analisti: “We updated our 2016-2018 assumptions taking in consideration the change in the scope of the SMS business and the solid organic growth of the e-mail business. Through the acquisitions, MailUp has now reached a size that would allow economies of scale and strong cash flow generation. We believe that according to the recent performance and the expected turnover growth, MailUp should be able to deliver operating margins and cash flows consistent with market multiples over the present level. Following our estimates revision, our analysis yields a target price of €3.16 per share and we confirm our OUTPERFORM recommendation on the stock“.