Gold prices edge lower; heading for weekly losses ahead of U.S.-Russia talks
Investing.com - Deutsche Bank (ETR:DBKGn) downgraded Tristel PLC (LON:TSTL) from Buy to Hold while raising its price target to GBP4.00 from GBP3.85, citing the stock’s strong recent performance.
The medical device company’s shares have rallied 53% since early April without any consensus estimate upgrades, validating Deutsche Bank’s previous thesis that the shares were undervalued.
Deutsche Bank notes that Tristel’s valuation has now reverted to a mid-teen EV/EBITDA multiple, which aligns with its historical mid-to-high teen range, and a 4% free cash flow yield.
The bank considers the current valuation fair, given ongoing uncertainty around Tristel’s U.S. expansion plans and the company’s ability to return its core business to double-digit growth.
Tristel is scheduled to release a trading update and hold a Capital Markets Day on July 29, which could provide further clarity on its strategic direction.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.