(News Bulletin 247) – Berenberg – which had briefly placed its recommendation on SES-imagotag ‘under review’ – reiterated its buy advice this morning on the stock, which it is pairing with a new target price of 215 euros, against 175 euros previously.
In its research note, the German bank believes that investors should be prepared for a strong comeback of buyers on the stock following recent accusations launched by the American fund Gotham.
‘From our point of view, the consensus does not fully reflect the accretive nature in terms of margins linked to the increase in its penetration rate in a segment with high added value, nor its growing adoption within the market, particularly in United States’, explains the financial establishment.
Its new price target shows an upside potential of around 73% compared to the closing price on Monday evening.
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