Edenred just managed to climb into the green with a gain of less than 1%, helped by favorable comments from some brokers following Tuesday's announcement of its proposed acquisition of Reward Gateway, which "ticks a lot of boxes" according to Stifel.

Stifel, which maintains its 'buy' rating on Edenred and has raised its target price from €62 to €68, points out that the deal will strengthen the Group's presence in an attractive market by entering new countries and reinforcing its existing offering.

Oddo BHF, which remains 'outperform' with a target price raised from 64.5 to 68 euros, acknowledges that the acquisition multiple 'may appear facially high', but highlights the target's 'very solid financial metrics, in a promising market'.

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