HLFFF - HelloFresh expected to post strong growth estimates at Capital Markets Day

Bryan Garnier launches coverage on HelloFresh (HLFFF) with a Buy rating and price target of €69, which appears to be a new Street high. Analyst Clément Genelot says HelloFresh embodies one of only two sustainable and winning models that are seen in the meal kit industry As for a short-term catalyst, Genelot points to HelloFresh's Capital Markets Day in December. "Reassuring announcements should be made regarding the group's ability to continue to grow at double-digit rates. In spite of higher profit reinvestments into growth, we still expect the group's EBITDA margin to continue to improve over the next few years," he notes.On valuation, Genelot says HelloFresh at around 2.0X EV/sales seems in line with or even undemanding relative to peers like Zalando, Asos and Amazon at 2X to 3X on average.HelloFresh is off 6.48% today in Frankfurt trading. Seeking Alpha author James Cherry has been calling out the upside with

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HelloFresh expected to post strong growth estimates at Capital Markets Day