Planisware: the stock stands out, Berenberg initiates a buy rating
(CercleFinance.com) - Planisware shares were among the biggest market risers on Tuesday morning on the Paris Bourse, with the project planning software specialist benefiting from a Berenberg note in which the broker initiated a buy on the stock.
At 10.10 a.m., the stock had gained over 2%, compared with a 0.1% decline at the same time for the SBF 120 index.
Berenberg initiated coverage of the stock this morning with a buy recommendation and a price target of 29 euros, as the broker considers the group to be a 'maestro' in the project portfolio management software market.
We see Planisware as a key beneficiary of the fast-growing 'project economy' sector, with sustainable earnings growth potential", stresses the intermediary.
According to Berenberg, the Group is in a position to generate average annual growth of around 20% in sales by 2026, and 22% in adjusted EBIT", he adds.
Despite a successful start on the stock market, the share is still trading at a marked discount to its comparables, he adds, which suggests a possible revaluation.
His price target shows a potential upside of 24% compared with Monday evening's closing price.
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