Stifel Nicolaus analyst Benjamin Kohnke maintained a Buy rating on Delivery Hero SE (DHER – Research Report) today and set a price target of €50.00.
Benjamin Kohnke has given his Buy rating due to a combination of factors including Delivery Hero SE’s solid first-quarter results and promising growth prospects. The company’s gross merchandise volume (GMV) showed a notable increase of 9% on a like-for-like basis, aligning with the company-collected consensus. Additionally, segment revenue grew by approximately 22%, surpassing consensus expectations by 2%, which indicates strong operational performance.
Moreover, Delivery Hero SE’s strategic moves in debt reduction, such as the successful execution of a €0.9 billion buy-back of convertible bonds, have improved its financial standing. The company’s guidance for fiscal year 2025 remains optimistic, with expected GMV growth of 8-10% and segment revenue growth of 17-19%. These factors, combined with the company’s improved EBITDA margins, contribute to Kohnke’s positive outlook and Buy rating for the stock.
In another report released today, Jefferies also maintained a Buy rating on the stock with a €41.00 price target.