Moonpig Group PLC (LSE:MOON) has much to like according to Deutsche Bank, which has raised its price target by almost a third.
The online card and gift group “Operates in a resilient market; servicing high emotion, small ticket purchases that repeat frequently.
“It has built a convenient and highly personalisable proposition resulting in high barriers to replicating, and a high bar for consumers switching.”
“This drops through into strong operating economics, with a flexible cost base, negligible inventory and a favourable working capital cycle delivering consistently strong margins and high cash conversion.”
Buy is the recommendation with a new price target of 290p against 220p previously.