In a report released today, Charles Brennan from Jefferies maintained a Buy rating on Nemetschek, with a price target of €110.00.
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Charles Brennan has given his Buy rating due to a combination of factors including Nemetschek’s strong position in the construction software market, which is poised for significant growth. The construction sector is one of the least digitally penetrated industries, offering substantial opportunities for expansion. Nemetschek, through its subsidiaries Bluebeam and GoCanvas, is well-positioned to capitalize on this trend, targeting segments expected to grow at around 12%.
Furthermore, Bluebeam, a leader in the industry, is experiencing growth rates exceeding 20%, which supports the belief that Nemetschek can sustain one of the highest growth rates in the sector. This robust growth potential underpins the Buy rating, with a price target set at €110, reflecting confidence in the company’s ability to outperform in a rapidly expanding market.
According to TipRanks, Brennan is a 5-star analyst with an average return of 10.2% and a 61.42% success rate. Brennan covers the Technology sector, focusing on stocks such as Temenos, Softcat, and Capgemini SE.
In another report released on November 11, Goldman Sachs also maintained a Buy rating on the stock with a €145.00 price target.