Puig continues to attract the interest of investment banks. JB Capital Markets begins coverage of the Catalan company and does so by valuing it below its IPO price last spring: the entity sees the Spanish company’s shares at 23.10 euros per share, compared to the 24.50 euros with which it debuted on the national market on May 3.
The independent firm founded by Javier Botín advises, however, buy the shares of the Catalan company. With its price target, JB Capital gives Puig an upside potential of 26.5% over the next 12 months. In any case, the price set by the analysis company remains below the 24.78 euros per share that the market consensus grants to Puig with a potential return of 35.6%.
This movement by JB Capital adds to the change of opinion issued this Monday by the analysts of Barclays who have cut the target price of Puig Brands to 23.30 euroscompared to the 24.40 euros they were awarded until now, which represents an upward potential of 26.9% compared to Puig’s closing price last Friday.
The shares of the Spanish multinational reached a minimum of 17.04 euros on January 14, having rebounded by 7.8% since then.
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