Euronext N.V. (EUXTF), mcap=$8.9bn, $83 vs $85

Pitch: Euronext’s current valuation is dislocated and does not reflect the compounding potential of the company as it continues to consolidate the European market infrastructure industry. Current prices present a great entry point to invest in a high-quality compounder led by a proven CEO and trading at 14.5x 2022 P/E. Given the relatively modest market cap compared to international peers, it is very possible that EUXTF could be sold to a larger buyer.

Valuation: Currently at 14.5x 2022 P/E, significantly below peers that trade at 18.5x – 35.2x multiples.

Exp. gain: 50% upside over the next 12-18 months

Full EUXTF write-up (free guest account required):

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