GTT: Berenberg upgrades stock
(CercleFinance.com) - Berenberg has upgraded GTT shares to 'buy', with a target price raised to E155, following 'solid' H1 results, including a record order book due to new order figures exceeding its expectations.
Despite this, the share price has fallen by 17% from its March peak, due to the broader sell-off in the equity market, the broker points out, which therefore considers this decline exaggerated, given GTT's solid fundamentals.
For the engineering company Berenberg thus highlights strong visibility on future sales, a positive outlook for order intake and a generous payout policy to shareholders.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
Despite this, the share price has fallen by 17% from its March peak, due to the broader sell-off in the equity market, the broker points out, which therefore considers this decline exaggerated, given GTT's solid fundamentals.
For the engineering company Berenberg thus highlights strong visibility on future sales, a positive outlook for order intake and a generous payout policy to shareholders.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.