Berenberg upgrades Nemetschek to 'buy' on 'alleviated valuation concerns'

Nemetschek SE

03/10/2025 08:33

** Berenberg has upgraded German software company Nemetschek NEKG.DE to "buy" from "hold" on alleviated valuation concerns and a more positive growth outlook

** The broker sees strong adoption momentum for the firm's Bluebeam software and notes attractive greenfield opportunities

** Berenberg says it is reassured that investors understand potential near-term growth headwinds from multi-year agreements, easing its prior concerns about an "expectation gap"

** "We no longer view Nemetschek's valuation as overly demanding or stretched" following a recent share price pullback of over 20% since August, the brokerage says

** Shares of Nemetschek are up 2.5% at 07:31 GMT

** Out of 20 analysts that cover Nemetschek SE, eight rate the stock "strong buy" or "buy,"​ nine rate "hold" and three​ rate the stock "strong sell" or "sell" - LSEG data

 (Reporting by Maria Rugamer)

 ((Maria.Rugamer@thomsonreuters.com))