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Investing.com - Berenberg has raised its price target on Avolta AG (SWX:AVOL) to CHF52.00 from CHF45.00 while maintaining a Buy rating on the travel retail company.
The price target increase reflects Avolta’s position as the world’s largest and most diversified travel concessionaire operating in a structurally growing global travel concession market, which is projected to grow at a 5.5% CAGR through 2030 to reach $175 billion.
Berenberg highlights Avolta’s exposure to the attractive US market, which represents one-third of its revenues, and its leadership position in food and beverage, which accounts for another third of revenues.
The research firm views Avolta’s business line diversification as a unique advantage that enables the company to deliver multiple formats, increase resilience, and reduce complexity for airport partners.
Berenberg believes Avolta is well-positioned to deliver its guided 5-7% organic growth through 2027, noting that its healthy leverage provides ample room for small- and medium-sized acquisitions, particularly in the underweighted APAC region, or to return excess cash to shareholders.
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