Prosus Maintained at Buy as BofA Notes Open-ended Share Buyback Program

08:23 AM EDT, 10/07/2026 (MT Newswires) -- BofA Global Research maintained its buy rating on Prosus (PRX.AS, PRX.JO), noting that the technology investor's open-ended share repurchase program is a significant factor to the company's investment case given the buyback's scale and the stabilization impact on the discount to listed assets. Prosus has so far repurchased $49.1 billion since the open-ended buyback was initiated in June 2022, according to a Wednesday note. Analysts said the discount to the company's listed assets is increasing amid investor concerns around food delivery fundamentals and capital allocation. "Within food delivery, the market remains cautious on the timing and magnitude of a turnaround at JET, while ongoing investment by Chinese competitors in Brazil is viewed as a potential headwind to iFood's EBITDA recovery in FY28-FY29. We expect Prosus 1H27 results in early December to provide incremental evidence that the turnaround is gaining traction, which could help alleviate some of these concerns." BofA has a price objective of 65 euros for Prosus' stock.