On Friday, Deutsche Bank (ETR:DBKGn) increased its price target for Pluxee France SA (PLX:FP) shares to €36.00, up from the previous target of €35.50, while reiterating a Buy rating on the stock. The firm's analyst highlighted Pluxee's solid operating trend, which is supported by several key factors.
Pluxee's positive trajectory is attributed to a combination of ongoing contract wins and a rate of inflation that is slightly above initial expectations. These developments are expected to contribute to the company's robust performance.
In addition to the favorable operating trend, Pluxee has also seen higher financial revenues than originally projected. This uptick is due to inflation proving to be more resilient than anticipated, which has had a positive impact on the company's financial results.
A significant development for Pluxee is the acquisition of COBEE, a Spanish benefits company founded in 2019 with operations spanning Spain, Portugal, and Mexico. This strategic move is anticipated to bring in an additional €20 million in revenues by the fiscal year 2025.
The analyst's outlook for Pluxee remains positive, as these factors collectively underpin the company's continued growth and financial health. The updated price target reflects the analyst's confidence in Pluxee's capacity to maintain its current upward trend and capitalize on its recent strategic acquisition.
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