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Investing.com - Deutsche Bank (ETR:DBKGn) lowered its price target on HBX Group International PLC (BME:HBX) to EUR12.70 from EUR13.50 on Tuesday, while maintaining a Buy rating following the company’s third-quarter trading update.
The price target reduction comes after HBX Group missed revenue expectations and revised its guidance downward. Despite these challenges, the company’s constant currency growth in total transaction value (TTV) of approximately 8% outperformed the broader market, which grew by 5%.
HBX Group, which went public in February, adjusted its revenue guidance range lower for fiscal year 2025. However, the company maintained its adjusted EBITDA within the original forecast range, albeit with a reduced upper limit, suggesting margin expansion for the year.
Deutsche Bank noted that fourth-quarter expectations have been "de-risked to a certain degree" and highlighted encouraging commentary around anticipated performance improvement in the first half of fiscal year 2026.
The investment bank kept its target multiple unchanged but reduced the price target based on lower adjusted EBITDA estimates, while maintaining its Buy recommendation citing "attractive upside potential" for the stock.
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