Deutsche Bank cuts Compugroup Medical to 'hold', sees headwinds in H2

CompuGroup Medical SE & Co KgaA

13/05/2024 09:07

** Deutsche Bank cuts German medical software company
Compugroup Medical  COP1n.DE  to "hold" from "buy", pointing to
some headwinds in H2 2024
    ** DB notes the company has abandoned its FY 2025 mid-term
targets and refrained from posting mid-term guidance
    ** Although FY 2024 guidance was reiterated, the broker
notes the management's comments on moving parts that are "not
fully under control"
    ** The brokerage forecasts some pressure in H2 2024, among
which tougher competition and uncertainties around execution,
which may prevent the company from achieving the mid-point of FY
2024 outlook
    ** Though DB has now more concerns on execution, it sees
upside potential for H2 2024, if the company delivers on its
plans
    ** Shares in Compugroup are down 2.6%, among worst
performers on the German small cap index  .SDAXI 


 (Reporting by Amir Orusov)
 ((Amir.orusov@thomsonreuters.com))