Wavestone: Stifel downgrades stock
(CercleFinance.com) - Stifel downgrades its recommendation on Wavestone from 'buy' to 'hold', with a target price reduced from E72 to E45, following the publication of slightly disappointing half-year results and a profit warning for FY 2024-25.
While it is not lowering its adjusted EPS estimate for 2024-25, the broker is reducing its projection for 2025-26 by 7%, pointing to a still difficult business climate and now saying it is more cautious for the next financial year.
Stifel anticipates negative newsflow in the coming months, considering that the political crisis and budgetary situation in France constitute a significant headwind for Wavestone over the coming quarters.
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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.
While it is not lowering its adjusted EPS estimate for 2024-25, the broker is reducing its projection for 2025-26 by 7%, pointing to a still difficult business climate and now saying it is more cautious for the next financial year.
Stifel anticipates negative newsflow in the coming months, considering that the political crisis and budgetary situation in France constitute a significant headwind for Wavestone over the coming quarters.
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.