Charles Brennan, an analyst from Jefferies, maintained the Hold rating on Bytes Technology Group Plc (BYIT – Research Report). The associated price target is p500.00.
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Charles Brennan has given his Hold rating due to a combination of factors influencing Bytes Technology Group Plc. Despite the recent trading update showing unexpectedly strong performance, there are concerns about the sustainability of this growth. The company’s growth has historically been unpredictable, and a single positive period does not eliminate future risks.
Additionally, changes related to Microsoft commissions need time to fully integrate, and the overall economic environment in the UK remains weak. These elements contribute to a low level of visibility for the company’s future performance, prompting the decision to maintain a Hold rating.
According to TipRanks, Brennan is a 5-star analyst with an average return of 11.2% and a 65.00% success rate.