(CercleFinance.com) – Aveva fell nearly 4% in London, weighed down by a downgrading of opinion at Jefferies from ‘holding’ to ‘underperformance’, with a price target reduced from 3,300 to 2,000 pence, on 2023-24 EPS estimates reduced by 15-20%.
“A SaaS transition would ultimately be positive, but until the market digests the possible impact on the income statement, it is unlikely that the action can perform”, warns the broker in its note on the British group of software for industry.
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