Compass Group: Feedback from conference call: Good but some headwinds
NEUTRAL, Fair Value 900p vs. 800p (+3%)
After the H1 results and the conference call we made some adjustments. Using our new risk free rate of 3% vs. 3.3%, we upgrade our Fair Value to 900p based on a DCF and the historical median EV/EBIT multiple as the exit multiple on our FY+3 result. Neutral confirmed.
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