Barco rises after ING sees end to COVID 'perfect storm', upgrades to 'buy'

Barco NV

02/04/2025 09:21

** Shares in Belgium's Barco BAR.BR rise around 7% after ING upgrades the visual technology company to "buy" from "hold" and ups its PT by 70%

** Stock extends Monday's gains when it closed 6% higher

** "The COVID pandemic was a perfect storm for all its segments with long-lasting effects on growth and FCF," ING says

** "We believe the company can finally turn this page"

** ING expects Barco to be structurally back to growth from 2025, with a renewed product portfolio, more focus on higher margin software and recurring service revenue, and more efficient production footprint

** Berenberg hiked its PT on the stock on Monday by around 7% to 16 euros, sticking to its "buy" rating

 (Reporting by Alessandro Parodi)

 ((alessandro.parodi@thomsonreuters.com))