Antin 'overly de-rated', Citi upgrades to 'buy'

Antin Infrastructure Partners SAS

28/06/2024 09:26

** Citigroup upgrades Antin Infrastructure Partners
 ANTIN.PA  to "buy" from "hold", saying the French private
equity firm is "overly de-rated"
    ** "We estimate the shares are pricing in a particularly
negative scenario," it says, noting no other European
alternative asset manager has de-rated as much since the start
of 2023
    ** It says European alternatives is one of its most
preferred sectors across financials, with strong growth profiles
and attractive prices
    ** "Investors looking for deeply discounted names can also
find good value among the mid-caps, including ANTIN," it adds
    ** Citi sees industry exiting 2024 in a much healthier
position after lull over 2022-2023
    ** Antin's shares are up 6.3%, on track for their best day
since Jan. 12, when they closed 6.7% higher

 (Reporting by Dimitri Rhodes)
 ((Dimitri.Rhodes@thomsonreuters.com))