2025-06-04-Jefferies-杰富瑞大学_ELIS_-前首席执行官的见解_7页_217kb

EUROPE Business & Employment Equity Research Summary

• Event: Webinar on Monday, 30 June 2025, from 3:00 PM BST / 4:00 PM CEST / 10:00 AM EDT. Hosted by Simon Lechipre, CFA, on Insights from former Elis CEO, following an initiation of coverage at "Buy." No replay available.

• Speaker: Romain Dupuy, former Spain CEO of Elis with 15 years at the company; previously Country Manager at Re-Uz Spain, DGA COO at Cityz Media.

• Discussion Topics:

  • Update on industry trends and competitive environment.
  • Details on the business model.
  • Key competitive advantages in the industry.
  • M&A strategy and international expansion.

• Stock Valuation/Risks:

  • Elis (ELIS FP): "Buy" rating with price target of €23.68. Valuation based on multiples benchmarked to historical data and peers.
  • Key Risks: Macroeconomic headwinds, tougher competitive environment, wage and energy inflation.

• Analyst Certifications:

  • Simon Lechipre, Allen Wells, Ryan Flight (CFA) certify views are personal and compensation not tied to recommendations. Analysts are non-US and not registered with FINRA, so they may not be subject to certain FINRA rules.

• Recommendation:

  • Buy: Expected total return of 20% or more for securities with prices below €10, reflecting volatility.