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Investing.com - BofA Securities initiated coverage on Trustpilot Group PLC (LON:TRST) with a Buy rating and set a price target of GBP2.30.
The research firm described Trustpilot as a "high-quality SaaS business" with an expected 2025 return on invested capital (ROIC) of 27% and rising, along with free cash conversion of approximately 100%.
BofA Securities projects that Trustpilot will conduct US$220 million in share buybacks by 2030, enhancing shareholder returns over the coming years.
The firm sees potential upside risks to Trustpilot’s mid-teens growth rate, particularly stemming from its North American operations, and expects positive operational leverage to improve EBITDA margins annually.
BofA Securities calculates a potential total shareholder return of 33% based on its GBP2.30 price objective, supporting its bullish stance on the consumer review platform.
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