Shares in food delivery giant Just Eat Takeway.com NV have the potential to more than double in value, according to a leading investment bank.
Credit Suisse on Thursday updated its estimates following the company’s prelims the day before.
In the note sent out earlier, it repeated its ‘outperform’ recommendation and 4,000p price target.
It noted there was a "negative reaction" when Just Eat failed to provide formal guidance for the year ahead.
However, the bank added that this was partly rectified through the endorsement of current market estimates for gross transaction value.
CS was guarded on the very near term for the business but said on a one-year view it was "encouraged" and expects profit upgrades in spite of some expected headwinds for the sector.
At 9.20 am, the shares were changing hands for 1,774p. Of the nine banks and brokers logged as following Just Eat, five are positive on the stock. The consensus price target is 3,619p.