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On Monday, Deutsche Bank (ETR:DBKGn) analyst Benjamin Goy increased the price target for Euronext NV (EPA:ENX:FP) (OTC:EUXTF) shares to EUR164, up from EUR147, while maintaining a Buy rating on the stock. This decision follows Euronext’s strong first-quarter results for 2025, which showcased a 13% year-over-year organic revenue growth, surpassing consensus expectations. Additionally, the company improved its underlying EBITDA margin to an impressive 64%.
Euronext’s positive performance is partly attributed to the strong momentum observed in the second quarter of 2025 and the success of its growth initiatives. Despite the favorable developments, Euronext faced challenges due to a negative net financing result as interest rates fell and the company held significant liquidity in anticipation of potential accretive mergers and acquisitions. These factors led to downgrades below the line, which balanced out the EBITDA upgrades, leaving the EPS forecasts unchanged post-results. However, Goy’s forecasts remain ahead of the consensus.
The analyst’s report highlights that even with the headwinds, Euronext’s trading multiples are attractive. The company’s shares are currently trading at 18 times the estimated earnings per share (EPS) for 2027 and 13 times the estimated enterprise value to EBITDA for the same year. Goy reiterates Euronext’s status as a top pick among European exchanges, backing this with the newly raised target price of EUR164.
Euronext’s financial health and strategic positioning seem to bolster investor confidence, as reflected in Deutsche Bank’s updated price target and continued Buy rating. The stock’s performance and valuation metrics indicate a positive outlook for the company, as it navigates the financial landscape and explores opportunities for growth and expansion through strategic acquisitions.
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