Vox Markets Logo

Berenberg lifts Moonpig price target

14:55, 28th June 2024

[Timon - stock.adobe.com]

Berenberg lifted its price target on Moonpig Group   Follow | MOON on Friday to 280p from 265p as it said the strategic initiatives implemented by management are bearing fruit.
"Moonpig's technology-led strategy is delivering an improved customer experience, which is translating into stronger financial outcomes," it said.

"The market had previously questioned whether this strategy could yield such improvement, making the strength of the FY 2024 result particularly pleasing.

"Improved P&L outcomes accompanied significant deleveraging in FY 2024, which we expect to provide Moonpig with capital return optionality."

Berenberg - which reiterated its 'buy' rating on the stock - said it expects the strategic progress in FY 2024 to continue and deliver revenue growth acceleration beyond existing consensus estimates.

Stock Chart | MOON
TwitterFacebookLinkedIn

Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

Watchlist