Analyst Martin Comtesse of Jefferies maintained a Buy rating on Bechtle Aktiengesellschaft, retaining the price target of €52.00.
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Martin Comtesse has given his Buy rating due to a combination of factors that point to an improving outlook for Bechtle Aktiengesellschaft despite a weak first nine months of 2025. He anticipates that the upcoming preliminary fourth-quarter figures will demonstrate a decisive rebound, particularly in the German public sector, where demand appears to be recovering. In addition, he expects that customers’ efforts to bring forward purchases ahead of announced IT hardware price increases will further bolster Bechtle’s Q4 performance. Although Bechtle needs an exceptionally strong final quarter to reach its initial full-year 2025 objectives, Comtesse views the setup as favourable for a strong finish to the year.
He also assesses Bechtle within the broader European value-added reseller landscape, where structural drivers such as rising DRAM prices and ongoing IT infrastructure needs support a constructive medium-term demand environment. In this context, Bechtle’s scale, market position and exposure to recovering segments make it well placed to benefit from these trends relative to peers. Taken together, the expected Q4 recovery, pull-forward demand effects and supportive industry backdrop underpin Comtesse’s conviction that the risk‑reward profile is attractive at current levels, justifying his Buy recommendation on the stock.
According to TipRanks, Comtesse is an analyst with an average return of -2.7% and a 41.52% success rate.
In another report released on January 20, Deutsche Bank also maintained a Buy rating on the stock with a €49.00 price target.