June 13, 2024

Taylor Daily Press

Complete News World

Stock Market View: Degroof Petercam revises its price target for Ackermans

Stock Market View: Degroof Petercam revises its price target for Ackermans

(ABM FN) Degroof Petercam set the price target for Ackermans & van Haaren under review while maintaining a buy recommendation. This was stated in a report by analyst Chris Keepers on Thursday.

Kippers estimates the current intrinsic value of the holding company’s stake at €215.10, representing a discount of 20.7 percent.

Private banking activities continue to deliver good results and net inflows improve further.

Kippers has increased its outlook for this division, which will likely lead to a higher target price.

The analyst has been seeing for some time that the good results of private banking services are not reflected in the share price.

To interest investors in Ackerman’s stake, he believes a large deal may be enough. Ackermans still has approximately €417 million in cash. Kippers prefer one large transaction to a number of smaller transactions.

According to the analyst, the net cash position remains strong at 417 million euros, which is a preliminary calculation after the cancellation of treasury shares in April.

On the Brussels Stock Exchange, Ackermans shares fell 4.2 percent to 163.30 euros on Thursday.

Source: ABM Financial News

ABM Financial News is a resource for stock market news, video and data, both for real-time trading platforms and trading rooms and for online and offline media publications. The information in this article is not intended to provide professional investment advice or a recommendation to make particular investments.

Read about this stock also

  1. Akkermans had a strong first quarter

  2. Akkermans and van Haren’s results are not as exciting as they seem

Community direction

Will the stock rise or fall after this news?

See also  Housing sector bleak due to sluggish housing market | Economy