Oddo BHF has reiterated its 'outperform' rating on Wavestone, with a target price raised from €69 to €72, following the company's annual results which were '(once again) very solid, above expectations and initial budget at all levels'.

'While the current financial year will certainly be more challenging (unsurprisingly), the budgeted trajectory remains very decent and satisfactory in the current context, and superior to the majority of peers in the sector', adds the analyst.

He believes that the share is now trading at a slight premium to its sector "which is justified by operating performance and medium-term prospects", and that the 20% upside potential "seems sufficiently attractive for a stock of this quality".

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.