After the presentation of the half-year figures of GK Software SMC Research has published a research update to the software manufacturer and it confirmed the previous “Buy” judgment. However, analysts have slightly reduced the estimates and lowered its target price. .
GK software have increased sales by nearly 10 percent in the first half, but the result had been lower yoy. As the main reason why the analysts point to the increased cost of sales and project activities in the USA and the lower share of license revenues. For the achievement of the annual targets it will therefore in the remaining months of the year depend on whether we succeed GK software to convert coins the great potential of the full sales pipeline in new contracts. This repeats itself in the opinion of SMC Research the history pattern of the previous year, when the annual budget was only achieved with the completion of the Migros job just before Christmas.
The company show confident that this is also in the running Year succeed and continue to serve as a positive result in view. Also, analysts at SMC Research assume that the year-end sales will allow the generation of a significant profit. But their previous estimates now appear too optimistic analysts, so the research company had designed the assumptions a little more cautious. On this reduced base SMC Research sees fair value (including the assumed 25-percent takeover premium.) At 51.30 euros, the judgment loud unchanged “Buy
(Source: Equity Global Research Guide).
No comments:
Post a Comment