(News Bulletin 247) – Stifel initiates coverage of Wavestone with a ‘buy’ recommendation and a target price of 55 euros, implying an upside potential of around 22% for the stock of this digital transformation consulting firm .
‘Compared to IT services companies, its closest peers catering to the outsourcing segment and to a lesser extent the consulting segment, Wavestone’s valuation should be in the upper range,’ he said.
‘We believe that the company is in a position to double its EPS in five to six years, largely thanks to external growth’, estimates the broker, for whom the history of the group ‘speaks for itself’.
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