Puig’s stock market joy lasted three months. From the bell on May 3 until the beginning of August, the Catalan company traded above the 24.50 euros per share at which it had entered the stock market. Since the beginning of August, it has only occasionally recurred. Early September was the last time Puig traded at this price. NOW of Kepler Cheuvreux, who begins his coverage on Puig, brings his price target closer to the starting price.
Concretely, the investment bank offers its first valuation of the Catalan company, placing it in 24.25 euros per shareonly 0.25 euros below this first price. Currently, Puig shares are trading around 19 euros per share, which would give it a potential increase of 28% for the months to come.
Besides Kepler, only two other analytics companies set target prices for the research company. high-end beauty below the price with which it began its commercial career: BNP Paribas and Morning, which set their valuation at 23 euros per share.
Since the first ratings began to be issued, one month after their IPO, the indicative price of the consensus of analysts collected by Bloomberg was reduced by 11% and currently this amounts to 27.05 euros, compared to the 30.45 euros initially estimated. Even if this price leaves you an upside potential of 42% For the months to come, however, this would not allow it to exceed Puig’s current maximum on the stock market, established in June at 27.60 euros. At that time, its market capitalization reached 15.681 million euros.
Analysts’ optimism has diminished over the months and, in fact, only two investment banks now offer price targets above 30 euros: CaixaBank and JP Morgan, respectively 33 and 32 euros.
Puig has lost around 22.5% of its value since its IPO in May and the decline has extended to more than 28% since it entered the Ibex 35 on July 22. From Kepler Cheuvreux, they begin their coverage by recommending buying the company’s stock. Next to her, 75% of analysts agree with this position statement.
