Analyst Andrew Douglas of Jefferies maintained a Buy rating on The Vitec (VID – Research Report), retaining the price target of p425.00.
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Andrew Douglas has given his Buy rating due to a combination of factors that suggest a potential for recovery and stability in The Vitec’s financial outlook. The company’s FY24 results aligned with management’s guidance, indicating effective handling of challenging market conditions and high debt levels. Despite some uncertainties, such as a slow start to FY25F and US tariffs, the ongoing restructuring efforts have brought more stability compared to the past 6-9 months.
Additionally, the company has taken steps to strengthen its balance sheet through a small equity raise and the sale of Amimon. While consensus expectations may need adjustment, these actions, along with the potential for further de-risking of the equity story, contribute to a positive outlook for recovery. The refinancing efforts and the renegotiation of covenants through August 2026 further support the Buy rating by providing a clearer path to financial stability.
According to TipRanks, Douglas is ranked #5992 out of 9371 analysts.