Netcompany: Touches record high, SEB raises price target

Netcompany A/S

14/10/2020 10:35

** Shares in Danish IT services provider Netcompany
 NETCG.CO  raise more than 6%, hitting record high 
    ** Today's pricing - DKK 605 ($95.35) - is more or less in
line with the new price target (PT) set by broker SEB
    ** SEB raises its PT by 22% to DKK 610, citing the company's
strong order book in 2020 
    ** It expects Netcompany's Public segment to sustain strong
momentum in the coming year, adding large contract wins in
Norway should increase investor confidence in its geographic
expansion
    ** Although Netcompany "keeps on winning and growing",
broker sticks to its "hold" rating as it sees limited upside
with the stock trading at all time highs   
    ** SEB's new PT is the most bullish among analysts and
nearly 9% ahead of mean, according to Refinitiv data
    ** Netcompany stock is the third best performer on European
STOXX index  .STOXX 


($1 = 6.3453 Danish crowns)

 ((aleksandra.jasiurska@tr.com))