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Concurrent Technologies ( (GB:CNC) ) has provided an update.
Concurrent Technologies Plc has secured its largest UK defence contract to date, valued at £4 million, with a prominent UK defence prime contractor. This contract involves supplying rugged single board computers that adhere to the VME standard, customized to meet specific customer requirements, with deliveries planned through 2028 and potential extensions into the 2030s. The agreement signifies a strategic partnership, focusing on obsolescence management and technology upgrades, ultimately supporting European border protection. CEO Miles Adcock highlighted the importance of this contract in strengthening the company’s UK market presence and commitment to the VME standard.
The most recent analyst rating on (GB:CNC) stock is a Hold with a £195.00 price target. To see the full list of analyst forecasts on Concurrent Technologies stock, see the GB:CNC Stock Forecast page.
Spark’s Take on GB:CNC Stock
According to Spark, TipRanks’ AI Analyst, GB:CNC is a Neutral.
Concurrent Technologies’ strong financial performance is the most significant factor, driven by robust revenue growth, profitability, and financial stability. However, the technical analysis indicates a lack of upward momentum, and the high P/E ratio suggests the stock may be overvalued, which tempers the overall score.
To see Spark’s full report on GB:CNC stock, click here.
More about Concurrent Technologies
Concurrent Technologies Plc develops and manufactures high-end embedded plug-in cards and systems for use in a wide range of high-performance, long-life cycle applications within the telecommunications, defence, security, telemetry, scientific and aerospace markets, including applications within extremely harsh environments. The processor products feature Intel® processors, including the latest generation embedded Intel® Core™ processors, Intel® Xeon® and Intel Atom™ processors. The products are designed to be compliant with industry specifications and support many of today’s leading embedded operating systems. The products are sold world-wide.
Average Trading Volume: 261,715
Technical Sentiment Signal: Buy
Current Market Cap: £154.4M
For a thorough assessment of CNC stock, go to TipRanks’ Stock Analysis page.