Jefferies maintains its Buy recommendation and price target of 100E on Euronext shares.

'We believe it is possible that the shares will start to revalue at their LT. average of around 15x, if Euronext continues to execute the integration and remaining synergies perfectly', explains the analyst.

For longer-term holders, Jefferies sees 'material value creation potential with mergers and acquisitions involving strategic elements of the EU market infrastructure'.

There is, for the broker, a limited range of plausible buyers for such assets, particularly post-Brexit, 'and Euronext is strongly positioned to be a consolidator'.

Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.