FRANKFURT (dpa-AFX) – Delivery Hero shares benefited from a buy recommendation from UBS on Thursday. In the morning they gained 1.1 percent to 31.44 euros and were thus at the top of the MDax table (MDAX).
On Tuesday, the food delivery service’s shares temporarily fell by almost 5 percent after the company confirmed investigations by the EU Commission’s competition watchdog on suspicion of antitrust violations.
UBS included Delivery Hero back in its rating with a “Buy” rating and a price target of 45 euros. With a price close to the lows, the headwind for the shares is likely to be priced in, expects analyst Jo Barnet-Lamb. This already takes into account the lowered sales forecast and increasing balance sheet concerns./edh/jha/
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