JPM ups Just Eat Takeaway on cost control, M&A prospects

Just Eat Takeaway.com NV

07/08/2024 06:52

** J.P.Morgan upgrades Just Eat Takeaway  TKWY.AS  to
"overweight" from "neutral", pointing to resilient cash flows
and potential catalysts from M&A
    ** "The market is missing that the operations of the 'new
JET' have now stabilized, the balance sheet is restored and
management is executing well on cost control" - JPM
    ** Broker adds that its "blue-sky" scenario suggests further
100% share upside if management executes well on costs
    ** It notes that Menulog, GrubHub disposals may yield 1.4
billion euros ($1.53 billion) amid sector consolidation
    ** The 150 million euro buyback programme is expected to
protect the downside, it says
    ** Out of 20 analysts that cover Just Eat Takeaway, 11 rate
the stock "strong buy" or "buy,"​ five rate it "hold" and four
rate the stock "strong sell" or "sell"

($1 = 0.9168 euros)

 (Reporting by Gianluca Lo Nostro)
 ((gianluca.lonostro@thomsonreuters.com))