Kepler ups investment firm Gimv to 'buy' on planned capital hike

Gimv NV

22/11/2024 10:48

** Kepler Cheuvreux upgrades Gimv  GIMV.BR  to "buy" from
"hold" after the Belgian investment company on Thursday said it
was preparing a potential capital increase
    ** The planned 300 million euro ($312.4 million) capital
hike, if approved, should provide Gimv with scaling capacities,
the broker says
    ** It sees a "more compelling equity story", saying Gimv
will benefit from a lower cost base vs larger portfolio and a
wider scope for investments, among others
    ** The stock is at an attractive entry point after the
discount to NAV expansion to 30% in the past few months, Kepler
adds
    ** It raises PT by 6.7% to 48 euros; the shares rise 3.1% to
around 40 euros by 1040 GMT
    ** Three out of four analysts rate the Gimv stock "strong
buy" or "buy", with one at "hold" - LSEG data

($1 = 0.9603 euros)

 (Reporting Johan Bodinier)
 ((johangeorgesroger.bodinier@thomsonreuters.com))