Credit Suisse downgrades Zooplus to 'neutral' on limited upside potential

EQT Holdings

13/10/2021 08:18

** Credit Suisse downgrades German online pet food and
supplies retailer Zooplus  ZO1G.DE  to "neutral", seeing limited
 upside potential after a recent EUR 470/share bid from H&F 
    ** It sees the finalization of the EQT  EQTAB.ST  takeover
as the key risk, noting in particular the risk of inability to
agree on the price and the possibility of deal cancellation
    ** The brokerage increases its target price to EUR 470 to
match the H&F bid, but does not rule out another bidding round,
which is reflected in its EUR 500/share "Blue Sky scenario"
    ** CS places its "Grey Sky scenario" at EUR 460/shr in case
of a reversal of the most recent bid
    ** Out of 13 analysts that cover Zooplus AG, ​one rates the
stock "buy", ​​eight rate "hold" and four​ rate the stock
"strong sell" or "sell"
    

 (Reporting by Alexander Kloss)
 ((alexander.kloss@thomsonreuters.com))