Just Eat jumps after MS upgrades to 'overweight'

Just Eat Takeaway.com NV

09/08/2024 10:27

** Shares in Just Eat Takeaway  TKWY.AS  rise around 5% to
May highs after Morgan Stanley upgrades the food delivery
company to "overweight" from "equal weight", citing potential
higher fee caps in New York and operational improvements
    ** "We think sentiment may now start to change," MS says,
seeing valuation as attractive at these levels
    ** MS sees a higher probability of raising level of
commissions food delivery platforms can charge in New York to
about 43% of total order from about 23%
    ** If the fee cap bill passes, MS estimates higher fees
could add about 50 mln euros to adjusted EBITDA
    ** Broker points also to recent operational improvements,
such as stabilising market share in the UK and Ireland, Amazon
partnership in Germany, and exits from France/New Zealand
        ** Stock on track for four-day winning streak, it has
erased all recent losses
  

    
($1 = 0.7831 pounds)

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