Jefferies cuts Nagarro to 'hold', sees limited upside
BUZZ-Jefferies cuts Nagarro to 'hold', sees limited upside ** Jefferies downgrades German technology consulting company Nagarro NA9n.DE to "hold" from "buy", citing a lack of clear signs of revenue growth acceleration
** The brokerage points to soft demand across key markets, a slowdown in organic revenue growth in constant currency (+0.6% in Q2) and uncertainties surrounding the transition from conventional task-based services to AI-native projects
**Jefferies raises its PT by 17.4% to €81 to reflect Persistent's takeover offer, which the broker expects to close in Q4 2026 or Q1 2027
** Jefferies expects FY adj. EBITDA margin to come in at the bottom end of Nagarro's guidance range of 14.5-15.5%
** Out of five analysts covering Nagarro, one rates it "strong buy", two "hold" and two "sell" - LSEG data
($1 = 0.8576 euros)
(Conrad Kuepper)
Recent news on Nagarro SE
See all newsIndia's Persistent Systems plans debut rupee debt sale to fund acquisition, bankers say
Brief: Stoxx Nagarro SE Will Be Deleted From Sdax, Procredit Holding To Replace Effective Oct 14
India's Persistent falls as debt-funded Nagarro acquisition raises EPS concerns
Brief: Persistent Secures 83.25% Of Nagarro’s Outstanding Share Capital
Jefferies cuts Nagarro to 'hold', sees limited upside