Stifel Nicolaus analyst Yannik Siering has maintained their bullish stance on 0DPM stock, giving a Buy rating yesterday.
Yannik Siering has given his Buy rating due to a combination of factors that suggest potential growth for Bechtle Aktiengesellschaft despite current challenges. The company’s Q4 results were slightly below expectations, but the guidance for FY25 indicates flat growth, suggesting a cautious yet optimistic outlook. The analyst believes that the German stimulus, although having a limited short-term impact, will eventually support investment sentiment among German SMEs, particularly in the latter half of the year.
Furthermore, the upcoming Windows 11 refresh cycle is expected to drive IT infrastructure upgrades, which could positively impact Bechtle’s performance. Although there are uncertainties regarding the timing of market recovery, the high volume of framework contracts suggests pent-up demand that could be realized once these contracts are activated. Despite headwinds and a challenging start to FY25, Bechtle’s effective cost management and potential operational leverage effects in the second half of the year contribute to the positive outlook. The price target has been slightly increased to €46, reflecting higher multiples and the potential for market recovery.
In another report released yesterday, Baader Bank also maintained a Buy rating on the stock with a €51.00 price target.