Axway Software: Momentum turning more positive, SocGen upgrades
21/02/2020 07:54
** Societe Generale ups Axway Software AXW.PA to "buy"
from "hold", saying the software developer continues to take the
right decisions to improve its performance, even if future
earnings are hard to forecast
** SocGen points to CEO's Donovan organisational
transformation of the group, rationalisation of its product
portfolio, focused R&D investments
** Societe Generale says that the strong 2019 finish has led
the brokerage to sharply increase its estimates for Axway; ups
its target price by over 50% to EUR 20
** The brokerage says its new valuation indicates decent
potential upside even after the shares' rally on Thursday
following its Q4 results
((michal.aleksandrowicz@tr.com))