Nemetschek: Invest Securities stilla seller, but raises TP

(CercleFinance.com) - While raising its target price for Nemetschek shares from E86 to E94, Invest Securities reiterates its 'sell' opinion on valuation grounds, especially in the wake of a 10% rise in the share price on the back of a quarterly publication deemed 'impressive'.


Even though it is partly linked to exceptional items (license purchases within the Design division with the mandatory switch to subscription on January 1), Nemetschek continues to ride on an exceptional momentum, the analyst says.

We'll have to wait until mid-March to quantify the exceptional impact of Q4 2024 and its consequences on 2025 results, he warns, while raising his 2024-26 expectations (+6.4%/+3.5%/+3.1% for adjusted EPS) for the German industrial software group.


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