Edenred SE

EDEN: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€52.00	Xqyx	Zdlwpqyd

Italian Authorities Investigation Sends Edenred Shares Plummeting

Michael Field

Feb 21, 2024

Ahead of its full-year results next week, wide-moat Edenred announced on Feb. 21 that it is being investigated by the Italian authorities in relation to a public tender in 2019. Although information beyond this is scant, it hasn’t stopped the market from hitting the shares hard on Feb. 21, with the share price down 13% at the time of writing. We maintain our EUR 76 fair value estimate for the stock.

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