Professional
Added to YB: 2024-05-07
Pitch date: 2024-04-09
CTT.LS [bullish]
CTT - Correios De Portugal, S.A.
+54.12%
current return
Author Info
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Company Info
CTT - Correios De Portugal, S.A., together with its subsidiaries, engages in reference postal business in Portugal and internationally.
Market Cap
EUR 875.3M
Pitch Price
EUR 4.10
Price Target
13.00 (+106%)
Dividend
2.58%
EV/EBITDA
-3.77
P/E
17.37
EV/Sales
-0.57
Sector
Air Freight and Logistics
Category
growth
Show full summary:
Maran Partners Fund Portfolio Holding: CTT - Correios De Portugal, S.A.
CTT.LS: Portuguese conglomerate grew recurring EBIT +36%, FCF +40%, Express & Parcels revenue +32% in 2023. 2024 EBITDA guided >€150M, 2025 €175M midpoint vs €600M EV (sub-4x). Monetizing assets, buybacks. €200M EBITDA potential, 125M shares. €10 at 6x, €13 at 8x (2-3x upside).
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