Edenred SE
EDEN: XPAR (FRA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€15.00 | Jpvc | Pkmnrtmh |
Italian Authorities Investigation Sends Edenred Shares Plummeting
Ahead of its full-year results next week, wide-moat Edenred announced on Feb. 21 that it is being investigated by the Italian authorities in relation to a public tender in 2019. Although information beyond this is scant, it hasn’t stopped the market from hitting the shares hard on Feb. 21, with the share price down 13% at the time of writing. We maintain our EUR 76 fair value estimate for the stock.