Wavestone: Stifel downgrades its recommendation

(CercleFinance.com) - Wavestone is down by almost 2% under the weight of an unfavorable note from Stifel, which has downgraded its recommendation from 'buy' to 'hold' despite raising its target price for the consulting firm's shares from ?60 to ?67.


While recognizing Wavestone as 'a high-quality company', the broker warns that, given the deteriorating macroeconomic environment, 'the risk of management reducing its targets is not unlikely'.

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