'Hard to unlock, but clear value' - Stifel initiates Sixt with 'buy'

Sixt SE

15/02/2022 11:20

** Stifel initiates coverage on Sixt  SIXG.DE  with "buy"
rating and a 96 euro target price on grounds of the German car
rental company posing hard-to-unlock yet clear value
    ** "Sixt is the market-leading car rental business in
Germany and is a strong operator in Europe as well as being the
premium segment challenger in the US," the broker says
    ** Stifel further acknowledges the company's considerable
innovative power as well as its strong equity ratio of 35% (9M
2021) and strong cash flow on the back of current unprecedented
pricing
    ** "We think that the main driver is the US," the broker
adds, seeing potential in Sixt's 1.5% market share to generate
one billion euros of revenue in 2023/24 
    ** Out of 10 analysts that cover Sixt, eight rate the stock
"strong buy" or "buy," ​one analyst rates "hold" and one rates
the stock "sell"

 (Reporting by Alexander Kloss)
 ((alexander.kloss@thomsonreuters.com))