Qwamplify: share price declines, broker lowers target

(CercleFinance.com) - Qwamplify is down nearly 1% in Paris, as Euroland Corporate has maintained its 'buy' recommendation on the stock, with a price target lowered by 8% to 5.
5 euros, implying a 54% upside potential for the stock, following the publication of 2023 sales and gross margin.

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

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.

Copyright (c) 2023 CercleFinance.com. All rights reserved.