(News Bulletin 247) – Stifel raises its advice on Esker from ‘hold’ to ‘buy’ with a price target left at 175 euros, judging the share’s decline of nearly 25% in three months ‘exaggerated given the fundamentals, growth and operational excellence of the company.
The broker expects the document dematerialization specialist to show for the first quarter ‘solid revenue growth, but low order intake due to the economic slowdown, particularly in France’.
Stifel nevertheless believes that the slowdown in order intake during 2023 seems to be well integrated into the share price and that the company has returned to attractive valuation levels.
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