Elis gained nearly 4% on the back of favorable comments from Bank of America, which added the industrial laundry group's stock to its 'SMID Cap Europe Best Ideas' list with a new price target of 23 euros.

It points out that the stock is trading 25-30% below mid-cycle multiples "despite strong short-term momentum and positive EPS revisions" (BoA says it is 5-8% above consensus) and better organic growth in the medium term.

Copyright (c) 2023 CercleFinance.com. All rights reserved.