Allegro.EU SA Ordinary Shares

ALE: XWAR (POL)
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Allegro Earnings: Upcoming Investments Give Market Jitters, Creating Buying Opportunity

Wide-moat Allegro posted soft third-quarter results, with PLN 2.62 billion in revenue and PLN 675 million in operating profit missing our PLN 2.67 billion and PLN 746 billion respective estimates. We’ve lowered our fair value estimate to PLN 42 from PLN 44.50 due to near-term cost pressures but continue to view Allegro as undervalued, particularly after a 12% selloff during Nov. 14 intraday trading.

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