Stifel initiates 'recession-proof' ID Logistics with 'buy'

Id Logistics SAS

06/03/2023 12:23

** Stifel initiates ID Logistics  IDLA.PA  with "buy" and a
target price of 350 euros, saying the France-based logistics
company operates in a dynamic market and is experiencing
exceptional growth in the sector
    ** "Small French leader operating in the contract logistics
market growing at 4% per year," the broker says, calling the
company "recession proof"
    ** Stifel notes ID Logistics has posted average growth of
16% per year over the past ten years, of which 10% is organic,
outperforming all its rivals in terms of growth
    ** Unlike its major generalist competitors in transport and
freight forwarding, ID Logistics has been growing faster and
benefits from long-term contracts with little sensitivity to the
economic climate, the broker says
    ** The valuation is "still attractive in the short term,
with potential for the share price to double in three to five
years", Stifel says, deeming the premium price justified as it
expects the group to continue outperforming the sector
    ** All five analysts covering ID Logistics rate the stock
"buy" - Refinitiv data

($1 = 0.9411 euros)

 (Reporting by Dina Kartit)
 ((dina.kartit@thomsonreuters.com))