(CercleFinance.com) – Euroland initiated coverage of the Memscap share on Wednesday with a ‘buy’ recommendation and a price target of 4.15 euros, highlighting in particular the ‘broad and innovative’ offer proposed by the specialist electro-mechanical systems (MEMS).
In a note released in the morning, Euroland believes that the French leader in MEMS has a “leading” industrial tool and “substantial” production capacities, which should allow it to carry out its strategic plan.
The stockbroking company thus says it expects an average annual growth in turnover of 26.2% for the period from 2022 to 2025.
‘At the current price, Memscap is paying 4.7x the ROC 2023e vs 10.5x on average for its peers’, adds Euroland.
‘Such a discount is not justified for this player which should combine sustained organic growth and high profitability’, continues the Parisian company.
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