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Investing.com -- Getlink SE (EPA:GETP) on Friday reported mixed traffic figures for October, with truck shuttle traffic decreasing 7.2% year-over-year, a steeper decline compared to the 2.1% drop recorded in September.
The company’s passenger shuttle service showed improvement, growing 4.1% compared to the same period last year. This marks a positive shift from September when passenger traffic had decreased by 3.2%.
Despite the passenger growth, LeShuttle continues to demonstrate underwhelming overall performance, with the truck traffic decline offsetting gains in the passenger segment.
Getlink currently trades at approximately €15.83 per share, with a price target of €16.50, representing a potential 4% upside.
The company faces challenges related to an elevated capital expenditure cycle, which is expected to compress free cash flow generation into the early 2030s. Getlink currently has a next twelve months free cash flow yield of approximately 5.1%.
Jefferies analysts note there appear to be limited short-term catalysts that could drive accelerated traffic volumes until the capital expenditure cycle is completed.
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