Just Eat Takeaway's Amsterdam shares soar on Grubhub deal

Just Eat Takeaway.com NV

13/11/2024 08:45

** Amsterdam-listed shares of Just Eat Takeaway  TKWY.AS 
jump around 20% after it struck a deal to sell U.S. unit Grubhub
to food-delivery startup Wonder for $650 mln
    ** Analysts are positive on the sale, but flag that Just Eat
might need to sell other assets to catch up on valuation
    ** "This is a good news as it should help the company to
improve its growth profile," Bryan Garnier analyst Clement
Genelot says
    ** "But entirely closing the valuation gap with its European
peers might require to also sell/exit Canada, Australia, parts
of Southern Europe to really refocus on its strongholds (the UK,
the Netherlands, Germany)"
    ** "More asset sales would help, as would accelerating
growth, but this is a clear positive step," Barclays analysts
say
    ** J.P.Morgan analysts expect market to view transaction as
positive even with a lower valuation
    ** If gains hold, the stock will see its best day since Aug.
2022

 (Reporting by Anna Pruchnicka)
 ((anna.pruchnicka@tr.com))