Jefferies analyst Martin Comtesse maintained a Buy rating on Bechtle Aktiengesellschaft (0DPM – Research Report) today and set a price target of €50.00.
Martin Comtesse has given his Buy rating due to a combination of factors including the conservative guidance provided by Bechtle Aktiengesellschaft for FY25, which is seen as a baseline rather than a ceiling. Despite last year’s underwhelming performance and current macroeconomic uncertainties, the company is expected to experience business volume growth between 0 and 5%, and revenue growth between -3% and +3%, with earnings before taxes forecasted between -5% and +5%. Comtesse views these projections as conservative and anticipates more favorable developments once the German government is established.
Additionally, Bechtle Aktiengesellschaft has been a standout performer within the German mid-cap sector, outperforming the MDAX with a 21% increase. The market perceives the company as a key beneficiary of the anticipated German infrastructure stimulus, which is expected to boost public spending and restore confidence among private small and medium-sized businesses, which account for approximately half of Bechtle’s sales. Comtesse maintains a positive outlook on the company due to its strong mid-term potential as Germany’s market leader.