Wavestone: Stifel downgrades its recommendation

(CercleFinance.com) - Stifel downgrades its recommendation on Wavestone from 'buy' to 'hold', despite raising its target price from 60 to 67 euros, considering that 'the company's current valuation leaves a short-term risk premium too low'.


Wavestone is a high-quality company, characterized by an impressive standard of financial communication with a high and much-appreciated degree of transparency", acknowledges the broker in the summary of its note.

"Given the deterioration in the macroeconomic environment, a significant slowdown is likely to occur in the third and fourth quarters. The risk of a reduction in management targets is therefore not unlikely', it warns.

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