Unieuro shines amid analysts' estimates hikes post closure of Covercare deal
05/12/2023 13:14
** Shares in Italy's Unieuro UNIR.MI rise over 7% as the
closing of the Covercare acquisition prompted some analysts to
lift their estimates for the electronics retailer
** Unieuro said on Monday after market close it expects
consolidation with Covercare to result in net cash flow in the
EUR 20-40 million range at Feb. 29, 2024
** Banca Akros raised its 2024 net profit estimates for
Unieuro to 6.2 million euros from the previous estimate of 5.3
million euros "while still maintaining a bit of prudence", with
an expected EBIT of around 31-32 million euros
** The brokerage also confirmed its "buy" rating on the
stock, saying the shares are trading "excessively low"
** Unieuro stock reaches its highest since September
($1 = 0.9242 euros)
(Reporting by Luca Fratangelo, Alessandro Parodi)
((luca.fratangelo@thomsonreuters.com))