Wavestone: share price rises as analyst expresses confidence
At around 12:00 pm, the share price climbed 3.6%, back towards its all-time highs, while the small and mid-cap index advanced by 0.3%.
In a note, EuroLand analysts pointed out that last week the Group had published excellent first-half results and continued its "impressive forward march".
At the current price, the stock is trading at 10.1x Ebit 2024, a slight discount to its long-term track record (11.1x)", points out the brokerage firm.
"While this is in line with the sector's multiple, we believe that the Group should trade at a premium to its peers, given its fundamentals and medium-term outlook", adds Euroland.
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