Avanquest: Portzamparc downgrades 'buy' rating.

(CercleFinance.com) - Portzamparc has downgraded its "buy" rating on Avanquest to "hold," although has raised its target price on the stock from 43 euro cents to 50 euro cents, following the stock's sharp rise (+211% since January, +375% over the past six months and +535% over the past year).


The research department therefore considers that although the IT group's growth remains strong, boosted by the Freeprints and Photobooks applications, the share price performance has priced in this dynamic growth.

The analyst who monitors the Avanquest share added that its strong growth is continuing, which could be accelerated by the group intensifying its investments, which could potentially create additional value.



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