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Buy, €110: Jefferies said the low price dynamic offer good opportunities, especially considering the upcoming release of Q4 numbers. He pointed to solid tourism prospects, normalized purchasing conditions for the fleet and positive utilization signals from the competition.
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Buy, €105: Analyst Michael Kuhn of Deutsche Bank said Sixt is expected to report a pre-tax loss of €13 million for the first quarter, compared to a prior-year profit of €27.5 million.
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Buy, €135->€125: Analyst Marc-Rene Tonn said Sixt’s Q1 revenue is likely to grow and that pre-tax profit is likely to have grown year-over-year. However, he added that he reduced his earnings estimates due to somewhat lower expectations for business growth in the US this year and next year.
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Buy, €110->€95: Analyst Constantin Hesse of Jefferies said a recession could significantly lower consensus estimates for Sixt. He pointed out that pressure on volumes and prices can be expected. However, the stock remains attractive in the medium term.
Buy, €95->€105: Jefferies analyst Constantin Hesse said despite lower visibility in booking trends, travel demand remains strong. He said this trend is supported by European airline companies maintaining their guidance and a small weakness in the US market, which appears to be confined to the low-end domestic leisure segment. The outlook is also supported by disciplined fleet utilization in the industry and stronger residual values in the US market.