Jefferies analyst Andrew Wade maintained a Buy rating on Pinewood Technologies (PINE – Research Report) today and set a price target of p575.00.
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Andrew Wade’s rating is based on several compelling factors that underscore the potential of Pinewood Technologies. A significant driver for the Buy recommendation is the recent contract secured with Global Auto Holdings, a major player with extensive operations across the UK, North America, and Scandinavia, including the Lookers brand. This contract is anticipated to yield substantial earnings for Pinewood Technologies, marking a promising development for the company’s financial outlook.
While there may be slight adjustments to earnings expectations in the later phases due to the contract’s roll-out schedule, the overall impact is viewed positively. The agreement with such a prominent client not only enhances Pinewood’s revenue prospects but also strengthens its market position, supporting the Buy rating given by Andrew Wade.
Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PINE in relation to earlier this year.