Concorde and OTP both recommend AutoWallis shares for purchase with an increased target price

Concorde Securities Zrt. and OTP Bank, which follow the AutoWallis Group, confirmed their buy recommendations in their updated reports on the company’s shares: the former raised its 12-month target price from HUF 230 to HUF 235, while OTP Bank set a 12-month target price of HUF 210 after HUF 180. Based on this, analysts see significant upside potential in the shares of the Hungarian stock exchange car company. The analysts published their updated report after the region’s leading integrated car sales and mobility service provider published its 2024 results, according to which it increased its sales revenue by 9 percent to HUF 398 billion last year with an EBITDA of HUF 20.2 billion, while the number of vehicles sold increased by 8 percent to 48,386 units. This means that sales revenue, EBITDA and earnings per share in 2024 met or exceeded the expectations of the company’s analysts. The Group’s growing regional role and the diversification of its operations are demonstrated by the fact that more than 60 percent of its sales revenue in 2024 came from abroad, which could increase by up to 10 percentage points this year thanks to the acquisitions closed last year.