Qwamplify: price target lowered by Euroland Corporate

(CercleFinance.com) - Euroland Corporate maintains its 'buy' recommendation on Qwamplify, but lowers its target price from 8% to 5.
5 euros, implying a 54% upside potential for the stock, following the publication of 2023 sales and gross margin figures.

'The still inflationary environment and the slowdown in consumption still threaten the share of budgets that will be allocated to marketing in 2024, particularly among distributors and retailers', warns the analyst.

Adding that Qwamplify is also likely to take goodwill write-downs that could affect its profitability, Euroland Corporate says it will remain vigilant as it awaits the publication of annual results in January.

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