Avast (AVST)

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Share Price:
493.50p
Market Cap:
5,083m
Change Today:
7.80p
Sector:
IT Services

Citi initiates coverage of Avast at 'neutral'

By Michele Maatouk

Date: Friday 11 Sep 2020

LONDON (ShareCast) - (Sharecast News) - Citi initiated coverage on shares of security software vendor Avast on Friday with a 'neutral' recommendation.
The bank said that while the current business has attractive growth prospects, its analysis suggests the share price fully reflects the continued evolution of the group at its current trajectory.

"Although M&A could provide further upside we do not feel it appropriate to reflect this in our current target price of 550p per share," Citi said.

The bank said that as net debt/EBITDA levels approach management's target floor of 1.5x, speculation naturally rises regarding future capital deployments.

"The potential war chest could be used to add 10-15% to 2021 earnings...but don't pay for it too much in advance," it said.

"This M&A speculation has left little room for further upside and implies that a significant proportion of short-term earnings enhancement from future corporate actions is already in the current share price."

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Avast Market Data

Currency UK Pounds
Price 493.50p
Change Today 7.80p
52 Week High 600.00p
52 Week Low 420.00p
Volume 2,734,520
Shares Issued 1,030.01m
Market Cap 5,083m

Performance Indicators

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What The Brokers Say

Strong Buy 12
Buy 0
Neutral 1
Sell 0
Strong Sell 1
Total 14
strong_buy
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