Invest Securities reaffirms its 'buy' recommendation and raises its target price for Bigben from 4.5 to 5.8 euros, thanks to an increase in its target for Nacon, a stock it says it 'very clearly' prefers to Bigben.

"While we believe that Nacon is on the right track to turn around its results and is in a position to reduce its very high undervaluation (especially in the event of the commercial success of Test Drive), our opinion is more nuanced on Bigben", it states.

Although it recognizes that 'management is doing a pretty good job' in the Audiovidéo-Telco business, Invest Securities considers that Bigben offers a more limited potential for revaluation than Nacon, and a risk on its refinancing in February 2026.

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