Cyan: Berenberg sees profitability, starts with "buy"

Cyan AG

03/05/2019 07:45

** Berenberg starts Munich-based digital security company
Cyan  CYR.DE  with a "buy" rating and a price target of 41 euros
    ** The brokerage says Cyan's shares represent early-stage
investment opportunity into what will be a fast-growing market
for cyber security solutions
    ** Higher smartphone penetration rates, increasing use of
mobile phones to access internet and  rising amount of malicious
online content should drive further spending on mobile cyber
security, the brokerage says
    ** "Orange roll-out offers significant growth potential,"
the broker adds, referring to Cyan's contract with the telecoms
provider 
    ** Berenberg sees the company's top line to double by 2022
and an EBIT margin of 51.5 pct - broadly similar to peers Avast
 AVST.L  and Check Point Software  CHKP.O 



 ((joanna.wodzicka@tr.com))