Deliveroo plc

Fuel

  • Sectors : Technology
  • Companies : Deliveroo plc

Ratings and price correct at time of issue.

  • Deliveroo plc

    Closing Price: 174p

  • RATING 18/01/22

  • PREVIOUS RATING N/A

DAVY VIEW

Deliveroo (ROO) successfully disrupted Just Eat in the UK, exploiting a white space around quick service restaurants and establishing a leadership position in London that remains. Although the IPO fell somewhat flat, it shaped the balance sheet with £1.6bn cash at the interims – providing fuel for the ROO fire. Operating in a sector defined by M&A, ROO’s valuation is arguably underpinned. We initiate with an ‘Outperform’ rating and a price target of 320p.

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Jan 18 2022, 06:40 GMT

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