UBS cuts Nemetschek to 'neutral' on limited upside surprises in 2025

Nemetschek SE

11/11/2024 13:01

** UBS cuts German software developer Nemetschek  NEKG.DE 
to "neutral" from "buy," citing limited near-term upside
potential
    ** "We believe that while the long-term prospects are
attractive, the risk/reward profile is more balanced now," the
brokerage says
    **  UBS sees the group to reach the upper end of the 10-11%
organic growth target in 2024 citing good Q3 results ahead of
consensus
    ** However, having already anchored organic growth
expectations at 15% for 2025 it expects minimal upside
potential, adding "with the end market backdrop still
challenging there are downside risks still"
    ** Out of 22 analysts, six rate the stock "strong buy" or
"buy,"​ 12 rate it "hold" and four​ rate it "strong sell" or
"sell"

 (Reporting by Anastasiia Kozlova)
 ((Anastasiia.Kozlova@thomsonreuters.com))