Analyst Martin Comtesse of Jefferies maintained a Buy rating on CANCOM SE, retaining the price target of €29.00.
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Martin Comtesse’s rating is based on the noticeable sequential improvement in CANCOM SE’s financial performance during the third quarter. The company has shown a significant recovery in profitability, with EBITDA increasing to €27 million from €16 million in the previous quarter, largely due to cost savings and reduced restructuring charges.
Additionally, both the ‘Germany’ and ‘International’ segments have equally contributed to the growth, indicating a balanced and stable recovery. Management’s expectations for a strong performance in the fourth quarter further support the positive outlook. These factors combined suggest a promising trajectory for CANCOM SE, justifying the Buy rating.
Comtesse covers the Technology sector, focusing on stocks such as CANCOM SE, Kontron AG, and Nagarro SE. According to TipRanks, Comtesse has an average return of -4.3% and a 37.28% success rate on recommended stocks.
In another report released on October 29, Deutsche Bank also maintained a Buy rating on the stock with a €35.00 price target.