Sixt "A serial outperformer", Jefferies ups to 'buy'

Sixt SE

17/11/2021 06:30

** Jefferies sees German car rental company Sixt  SIXG.DE 
as a "serial outperformer", ups to "buy" from "hold" and raises
target price by 62.5% to 195 euros
    ** The broker says that following a record Q3, it expects
Sixt to continue benefiting from the recovery in travel and the
industry's very favourable pricing environment  urn:newsml:reuters.com:*:nASN001VG9
    ** "We see further rerating potential" the broker adds,
keeping margins at above historical levels, as it expects share
gains to continue in Europe and the United States, driven by a
growing station network and its integrated mobility platform
    ** Jefferies sees the current high pricing environment to
last another two - three quarters, driving strong profits and
higher EBT margins for Sixt
    ** The broker adds that Sixt has been re-fleeting ahead of
peers, with the fleet down only 13% in Q3 compared to an average
30% for the competition
    ** Out of 10 analysts that cover Sixt SE, eight rate the
stock "strong buy" or "buy", ​one analyst rates "hold" and one
rates the stock "sell"
    

 (Reporting by Elizaveta Gladun in Gdansk)
 ((elizaveta.gladun@thomsonreuters.com))