Basic Fit shares price in recent good run, Citi moves to 'neutral'

Basic-Fit

10/11/2021 08:03

** Citi cuts Basic Fit  BFIT.AS  to "neutral" from "buy",
saying the share price reflects the fitness centres operator's
recent strong performance 
    ** It says the shares have "recovered well from a year of
lockdowns", leaving little additional headroom to the broker's
newly hiked target price of 50 euros
    ** Citi gives credit to the company "bold roadmap" up to
2025 but stays cautious for the five following years, stating
that "it is unclear at this stage that gym take up will continue
so strongly as the impact of the pandemic fades"
    ** The broker is highly confident that Basic Fit could grow
to 1,250 gyms at end-2022 and by 460 at end-2025
    ** However, execution during the next 12 months will be
decisive, Citi adds
    ** Among 10 analysts covering the stock, five rate it
"strong buy" or "buy" and five "hold"

 (Reporting by Olivier Cherfan)
 ((olivier.cherfan@thomsonreuters.com))