Berenberg cuts Bechtle to 'hold' on uncertain prospects

Bechtle AG

30/10/2024 07:27

** Berenberg cuts German IT service provider Bechtle
 BC8G.DE  to "hold" from "buy", citing uncertain sales growth
and margin outlook
    ** Bechtle scrapped its outlook last week, citing adverse 
economic conditions
    ** The broker expects sales growth to face stronger
headwinds in 2025, especially in Germany, where the election
year poses potential additional risks
    ** It also expects no margin improvement for the next 12
months due to high cost level and lack of operating leverage
tailwinds
    ** Out of 17 analysts covering the company, 13 rate it
"strong buy" or "buy", two "hold" and two "sell"

 (Reporting by Isabel Demetz)
 ((Isabel.demetz@thomsonreuters.com))