Analysts value Żabka positively

Erste analyst Piotr Bogusz has upgraded Żabka shares from “sell” to “hold” and raised his target price from PLN 19.60 to PLN 34 following Couche-Tard’s takeover offer. The Canadian owner of Circle K plans to offer PLN 32 per share and has secured agreements to acquire 57.25% of Żabka from major shareholders and managers. Bogusz believes minority investors could eventually receive a premium if Couche-Tard seeks full ownership, noting Żabka’s stronger growth profile. He also sees potential synergies from improving Couche-Tard store profitability and accelerating expansion in Central and Eastern Europe.

Tender subscriptions are expected to begin around August 26, with completion planned by December, subject to regulatory approvals.

(pb.pl)