Exosens: Stifel raises target price
(CercleFinance.com) - Stifel reiterates its 'buy' recommendation on Exosens shares, with a target price raised from E30 to E38, to take into account better visibility on growth and higher market potential for this high-tech company.
Exosens' share price has appreciated relative to defense stocks, the broker notes, for which it does not actually incorporate the untapped market potential of the recently announced expansion into the US.
Stifel also argues that a military build-up in Europe could provide an additional business opportunity of over E700m over several years, which it does not see reflected in the share price.
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