TP ICAP MIDCAP analyst Michele Mombelli has maintained their bullish stance on 9PC stock, giving a Buy rating on November 14.
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Michele Mombelli has given his Buy rating due to a combination of factors related to the evolving regulatory landscape in the cloud computing sector. The European Commission’s recent investigations into major cloud service providers like Amazon Web Services and Microsoft Azure under the Digital Markets Act could result in these companies being designated as ‘gatekeepers.’ This designation would impose stricter rules on interoperability and data portability, potentially benefiting European providers like WIIT SpA.
Mombelli believes that WIIT, as a European cloud service provider, stands to gain from these regulatory changes. If AWS and Azure are required to comply with more stringent regulations, WIIT could position itself as a strategic partner for companies seeking compliance with the Digital Markets Act, particularly in areas of data security and EU localization. This shift could reduce the vendor lock-in phenomenon, making it easier for businesses to transition from major hyperscalers to alternative providers like WIIT, thereby enhancing WIIT’s market position.
In another report released on November 14, Intesa Sanpaolo also reiterated a Buy rating on the stock with a €26.20 price target.
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 9PC in relation to earlier this year.