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Freenet AG : The bullish trend is not over

02/18/2013 | 04:39am
Opinion : Bullish above EUR 16.35
Target price : EUR 17 Potential: 7.09%
Stop loss: EUR 16.1
Integrated Telecommunications Services

The EUR 16.35 resistance could be soon broken.

From a fundamental viewpoint, the company is strong. It has a reasonable valuation with an EV/Sales ratio of 0.82x. The Thomson Reuters consensus revised regularly upward EPS estimates of the company for the current year. The great business predictability emphasize the quality of this investment in the mid-term.

Technically, the security is in an uptrend on all time scales and it is supported by moving averages. This trend should allow the stock to overcome the EUR 16.35 resistance and then to reach the EUR 17.

In consequence, investors can take a long position in Freenet above the EUR 16.35 resistance. The first objective will be set at EUR 17, then we can expected to reach the EUR 18.5 historical area. A stop loss will be fixed under the EUR 16.35 resistance.

Freenet AG : Freenet AG : The bullish trend is not over

© 2013

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Financial Ratios

Size 2015e 2016e
Capitalization 3 369 M€ -
Entreprise Value (EV) 3 729 M€ 3 669 M€
Valuation 2015e 2016e
PER (Price / EPS) 13,7x 13,2x
Capitalization / Revenue 1,13x 1,13x
EV / Revenue 1,25x 1,23x
EV / EBITDA 10,0x 9,86x
Yield (DPS / Price) 6,00% 6,17%
Price to book (Price / BVPS) 2,61x 2,51x
Profitability 2015e 2016e
Operating Margin (EBIT / Sales) 10,4% 10,6%
operating Leverage (Delta EBIT / Delta Sales) - 9,73x
Net Margin (Net Profit / Revenue) 8,27% 8,60%
ROA (Net Profit / Asset) 12,6% 12,9%
ROE (Net Profit / Equities) 19,0% 19,4%
Rate of Dividend 82,3% 81,2%
Balance Sheet Analysis 2015e 2016e
CAPEX / Sales   0,75% 0,77%
Cash Flow / Sales (Taux d'autofinancement) 9,56% 9,76%
Capital Intensity (Assets / Sales) 0,66x 0,67x
Financial Leverage (Net Debt / EBITDA) 0,97x 0,81x
Income Statement Evolution
More Financials
EPS Revisions
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