DB ups Sixt to 'buy' on positive earnings momentum

Sixt SE

18/04/2024 10:52

** Deutsche Bank raises Sixt  SIXG.DE  to "buy" from "hold,"
pointing to the company's Q1 and full year earnings before taxes
(EBT) guidance as well as expected revenue growth
    ** The broker says it previously downgraded the German car
rental company due to negative expected profit and revenue per
day (RPD) momentum in 2023, both of which are now returning to
growth
    ** It adds that Sixt's guidance now implies a year-on-year
increase in EBT and that RPD could be back in positive territory
by H2
    ** "A potential escalation in the Middle East might put
pressure on the share price in the near term, but Sixt has no
direct exposure to the region" - DB
    ** Out of 11 analysts that cover Sixt, ten rate the stock
"strong buy" or "buy," ​and one analyst rates "hold" - LSEG
    
    

 (Reporting by Chiara Holzhaeuser)
 ((Chiara.Holzhaeuser@thomsonreuters.com))