Berenberg initiated coverage of Planisware shares on Tuesday with a Buy recommendation and a price target of 29 euros, considering the group to be a 'maestro' in the project portfolio management software market.

We see Planisware as a key beneficiary of the fast-growing 'project economy' sector, with sustainable earnings growth potential", says the intermediary.

According to Berenberg, the group with its "unique" business profile is in a position to generate average annual growth of around 20% in sales by 2026, and 22% in adjusted EBIT".

Knowing that this performance is eight to one percentage point higher than that expected from its competitors, the French group should gain market share in its core businesses, predicts the broker.

However, despite its successful start on the stock market, the share is still at a pronounced discount to its comparables, he adds, which suggests a possible revaluation.

We expect this valuation gap to narrow as investors become aware of the very high quality of this European software group", he concludes.

His price target shows a potential upside of 24% compared with Monday evening's closing price.

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.