Goldman Sachs starts Believe with "neutral" seeing execution risks

Believe SA

20/01/2022 07:50

** Goldman Sachs initiates French digital music company
Believe  BLV.PA  at "neutral" saying that while Believe is
well-positioned to capitalise on trends such as the growth of
streaming services and the rise of independent artists, there
are possible risks "around execution and competition"
    ** Adds that the company's future growth opportunities are
already priced in its current valuation
    ** The broker sees revenue CAGR of 27% over 2021-25 with
adjusted EBITDA improving from 3.6% to 6.4% due to scaling
    ** Out of 7 analysts that cover Believe, four rate the stock
"strong buy" or "buy, and ​three rate the stock "hold", per
Refinitiv data


 (Reporting by Antonis Pothitos)
 ((antonis.pothitos@thomsonreuters.com))