The return of in-person commerce has guaranteed a good Friday for those who have shares in Multiplan (MULT3), which owns shopping centers such as BarraShopping (RJ) and MorumbiShopping (SP). At around 12 noon today (30th), the shares were up 4.77% on the Brazilian Stock Exchange (B3), at R$24.83.
The shopping center administrator reported a net profit of R$ 171.5 million in the first quarter of 2022. That is, a total 270.5% higher than the one obtained in the same period last year, when the Delta variant of covid-19 19 still claimed many victims and the movement of people in malls was still restricted.
See below for more details on Multiplan’s balance sheet and whether it is worth investing in the company’s shares, according to experts consulted by the UOL.
Multiplan’s adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) grew 124.2% in the first quarter, reaching R$305.2 million. Net revenue totaled BRL 420 million between January and March this year, up 57.9% compared to the same months in 2021.
Sales grew 68.3% compared to the same period in 2021 and 11.6% compared to the first quarter of 2019, before the pandemic.
Time to invest in Multiplan shares?
Safra says yes. The bank recommends buying MULT3 to investors, believing in a greater appreciation of the paper — with a target price of R$ 28. The shopping mall sector should, according to Safra, continue to show a gradual recovery of results after the losses felt during the pandemic.
XP Investimentos is also betting on the acquisition of the share, with a target price of R$28. Mirae Asset believes in an even greater appreciation: R$28.33. BTG also points to the purchase and says the company has achieved these good results even with foot traffic still below pre-covid levels. BTG’s target price is BRL 33.