Berenberg, Bank of America Merrill Lynch, CaixaBank… and now JP Morgan. The US bank joins all these firms and improves Fluidra's target price after the company raised its forecasts for the year again and after very positive first quarter results.
JP Morgan now sets the theoretical value of the pool and wellness company at 36.50 euros, improving its valuation by more than 10 euros, from the previous 26 euros. At the same time, he reiterates his advice to 'overweight'.
"We increased our Fluidra target price to € 36.50 and continue to advise 'overweighting' after the good first quarter results and improved forecasts. Our new forecast for FY21 includes sales of € 1.9 billion, an accompanying EBITDA of 457 million euros and a net profit in cash of 260 million euros (EPS in cash of 1.33 euros), "they explain.
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