France's ID Logistics tracks for best day in nine years after Q3 update

Id Logistics SAS

23/10/2024 08:48

** France's ID Logistics  IDLA.PA  jumps around 10%, set for
biggest one-day jump in nearly nine years, on strong Q3 revenue
growth
    ** Revenue rose 19.6% year-on-year to 827.3 mln euros ($892
mln) and group says on track to post record growth in 2024
    ** Midcap Partners ("buy") notes the "very strong growth"
and says ID is "unstoppable"; deems the continuing U.S. growth
"insolent"
    ** Portzamparc ("buy") says update is "way beyond" their
expectations, showing a very favorable dynamic; raises its PT by
4% to 450 euros
    ** Says ID is benefiting from growing activities with
Amazon, Lactalis and Pepsi in the U.S., relationship expansion
with Inditex in the UK and Poland, development in Italy
 
 ($1 = 0.9276 euros)

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