(CercleFinance.com) – Berenberg raised its price target on SES-imagotag shares on Monday, while raising its price target from 170 to 175 euros due to prospects for 2023 deemed promising.
The financial intermediary recognizes that the 2022 annual results of the specialist in electronic labels for the distribution sector did not hold any major surprises.
“The management team continues to follow its trajectory of higher growth and improved profitability, while reiterating its objectives for 2023”, recalls the analyst in a note.
According to Berenberg, the negative reaction of the share price is due to the temporary surge in the group’s investments, an element that the professional nevertheless considers necessary in order to obtain large contracts.
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