HAMBURG (dpa-AFX Broker) - The private bank Berenberg has upgraded Bechtle from "Hold" to "Buy" in the course of a change of analysts and raised the target price from 41 to 57 euros. The market leader among German IT service providers for small and medium-sized companies is not only growing at an above-average rate, but also offers higher profitability on average, wrote the new analyst in charge, Nicole Winkler, in a study published on Thursday. Over the past five years, the company has achieved EBIT margins that were two percentage points higher than those of European IT vendors and should continue to do so. It raised its sales and earnings forecasts for 2024 and 2025./edh/tih

Publication of the original study: 21.02.2024 / 18:07 / GMT

First disclosure of the original study: Date not specified in study / Time not specified in study / Time zone not specified in study

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