EUXTF - Euronext: Impressive Results Still A Buy
2024-05-15 23:45:56 ET
Summary
- Positive underlying trend in EU exchanges, with solid non-volume revenue growth. This is also backed by bolt-on acquisition.
- Full support in Euronext with a deleverage story while remunerating shareholders.
- The company trades at a depressed valuation compared to its main competitors. Our buy rating is then confirmed.
Our team positively views the EU Diversified Financials sector, and we recently followed up on Deutsche Börse and LSEG (the London Stock Exchange Group). Today, we are back to comment on Euronext ([[EUXTF]], [[ERNXY]]). As a reminder, the company is an exchange group comprising the Milan, Paris, Amsterdam, Brussels, Dublin, Lisbon, and Oslo stock exchanges. Euronext's structure includes several divisions (Fig 1): listing, cash and fixed-income trading, clearing, post-trade, and market solutions....
Euronext: Impressive Results, Still A Buy