Investor Relations
June 9th 2016 | by Andrea Serventi

MailUp, new EnVent equity research: OUTPERFORM rating and target price of €3.16

EnVent Capital Markets makes the new equity research of MailUp available to the public, updated in the light of the financial year 2015. EnVent has confirmed the OUTPERFORM rating with a target price of €3.16.

Read the new equity research of MailUp

Analysts commented: “We updated our 2016-2018 assumptions taking in consideration the change in the scope of the SMS business and the solid organic growth of the e-mail business. Through the acquisitions, MailUp has now reached a size that would allow economies of scale and strong cash flow generation. We believe that according to the recent performance and the expected turnover growth, MailUp should be able to deliver operating margins and cash flows consistent with market multiples over the present level. Following our estimates revision, our analysis yields a target price of €3.16 per share and we confirm our OUTPERFORM recommendation on the stock“.