KBC resumes 'consistent and ruthless' Gimv at 'buy'

Gimv NV

12/02/2025 11:27

** KBC Securities resumes coverage of Belgium-based private
equity firm with a "buy" rating, saying the "time is now" for
Gimv  GIMV.BR , "a solid private equity compounder", as its new
strategy marks the beginning of a new growth phase 
    ** As Gimv plans to double its portfolio value to about 3.5
billion euros by 2030, KBC says it expects this to bring
long-term shareholder value
    ** "We think this is very much possible given the amount of
capital (post-transaction) that is at the disposal of Gimv's
investment teams and given how consistently Gimv has managed to
beat its (old) internal annual target portfolio return of
15.0%," says KBC
    ** The broker sets a PT of 56 euros, about 55% above current
market price, saying depressed stock price offers an attractive
dividend yield of above 7%
    ** It says the company now trades at an about 30% discount,
historically having traded at a 5% to 10% premium
    ** Out of 3 analysts that cover Gimv, two rate the stock
"strong buy" or "buy"  and ​one rates it "hold"
 

 (Reporting by Jakob Van Calster)
 ((Jakob.vancalster@thomsonreuters.com))