Delivery Hero falling - Citi: Competitive pressure in the Middle East

Published: 2025-02-19 04:12:21 ET DHER.DE

FRANKFURT (dpa-AFX Broker) - A sell recommendation by Citigroup weighed on the shares of Delivery Hero on Wednesday. The share price of the food delivery service fell by 3.4 percent to 30.32 euros in the morning. The share price thus corrected further after recovering by up to a good third since the multi-month low at the beginning of February.

Analyst Monique Pollard from Citigroup downgraded the shares from "Neutral" to "Sell" with a price target lowered from 28 to 26 euros. She sees increasing risks to profit margins due to growing competition in the Middle East. The aggressive expansion of the Chinese group Meituan's Keeta platform in Saudi Arabia appears to be paying off with gains in market share./mis/tih

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