Nemetschek: Invest Securities raises its target price

(CercleFinance.com) - Invest Securities maintains its 'neutral' rating on Nemetschek shares, with its target price raised from 86 to 88 euros.


The analyst points out that yesterday, Nemetschek announced the biggest acquisition in its history with the purchase of GoCanvas for $770 million, or 11.5x ARR 2023.

"This operation will strengthen the Build division, which already includes the star brand Bluebeam, and accelerate the migration to SaaS", points out Invest.

While Nemetschek's track-record in M&A and its complementarity with Bluebeam appear attractive, the transaction is dilutive in the short term, and we will have to wait for the transaction to be finalized during the summer to assess the value creation in the medium/long term", concludes the broker, who indicates that the current valuation offers "no potential".

Copyright (c) 2024 CercleFinance.com. All rights reserved.
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.