(CercleFinance.com) – GTT gains more than 2% in Paris, while Berenberg today reaffirmed its ‘buy’ recommendation and its target price of 150 euros on the stock, after half-yearly figures published at the end of July and deemed ‘ decent’ by the broker, above its expectations of 4% for revenue and 11% for net profit.
“We think most investors have already accepted short-term losses on projects in Russia and optimists are focused on cheap short-term multiples,” Berenberg said.
The stock only trades around 14 and 13 times its new EPS estimates for 2024 and 2025, he said, with dividend yields of 5.9 and 6.3% respectively, ‘which is optically cheap considering of GTT’s quality.
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