Planisware: BofA raises its price target
(CercleFinance.com) - On Friday, Bank of America reiterated its Buy recommendation on Planisware shares, with a price target raised from €32 to €33, indicating a potential upside of 20%.
In a research note, the US investment bank praises the 'solid' 4th quarter results published yesterday by the French software publisher for project management
. It therefore raises its organic growth forecast for the group for fiscal year 2025 from 15.2% to 16%, with the possibility of pleasant surprises should market conditions normalize.
We remain confident in Planisware's ability to generate a growth dynamic superior to that of its peers over the medium term", stresses BofA.
In its view, the expansion of the group's activities in defense and generative AI could generate additional growth opportunities.
Deeming the company's margin forecast of 35% for 2025 to be "prudent", BofA raised its own by 0.6 percentage points to 35.3%.
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