Berenberg likes European tech companies, sees growth ahead
19/01/2024 09:03
** Berenberg says it likes Europe's technology, media and
telecom (TMT) sector, seeing upside in 2024 from a macro
rebound, generative AI and structural growth
** Munich-based wafermaker Siltronic WAFGn.DE ("buy")
might rise on "a rebound in the broader chip sector", Berenberg
says, with a new facility in Singapore also set to improve
margins
** German healthcare data company Compugroup Medical
COP1n.DE ("buy") looks set to cut personnel and R&D costs, the
broker says, and should reach its recurring sales target by the
end of 2024 (originally planned for end of 2025)
** It says the fundamentals are good for Stuttgart's GFT
Technologies GFTG.DE ("buy"), with many banks and insurers
running legacy systems that the financial services IT firm can
target
** The new "GFT AI.DA Marketplace" tool should also drum up
business, the broker adds
** Camera-component maker Basler BSLG.DE , upgraded to
"buy" from "hold", now needs revenue of only about EUR 200
million to break even, the broker says, following the loss of
about 200 full-time equivalents
** Berenberg says "positive newsflow coming from consumer
electronics and logistics" will also add to Basler's orders
** Machine vision further provides Basler with structural
growth, the broker notes, with a potential capex upswing
providing "double-digit camera revenue growth in the medium
term"
(Reporting by Louis van Boxel-Woolf)
((Louis.vanBoxel-Woolf@thomsonreuters.com))