Delivery Hero tops MDax after UBS buy recommendation

Published: 2023-11-23 05:10:02 ET DHER.DE

FRANKFURT (dpa-AFX) - Shares in Delivery Hero benefited from a buy recommendation from UBS on Thursday. In the morning, they gained 1.1 percent to 31.44 euros and were thus at the top of the MDax tableau.

On Tuesday, the shares of the food delivery service had temporarily fallen by almost 5 percent after the company confirmed investigations by the EU Commission's competition watchdogs into suspected antitrust violations.

UBS added Delivery Hero to its rating with a "Buy" and a price target of 45 euros. Analyst Jo Barnet-Lamb expects the headwind for the shares to be priced in at a price close to the lows. This already includes the lowered sales forecast and increasing balance sheet concerns./edh/jha/

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