Citi starts Springer Nature at 'buy' on strong growth prospects
BUZZ-Citi starts Springer Nature at 'buy' on strong growth prospects ** Citi launches coverage of Springer Nature SPGG.DE with a "buy" rating, citing the German academic publisher's "attractive" growth profile
** The broker expects Springer Nature's Research division, which makes up over 90% of group adjusted EBIT, to deliver above-market growth
** It says the growth is supported by the company's exposure to Full Open Access as well as continued expansion in developing research markets
** Springer Nature's AI investments are improving operational efficiency and supporting higher publication volumes, with published article growth in H1 exceeding that of the broader market, Citi says
** The brokerage adds that the company's recurring revenue base provides earnings visibility, with around 60% of Research revenue contracted and renewal rates nearing 100% in its most recent renewal cycle
** Out of eight analysts covering Springer Nature, one rates the stock "strong buy", six "buy" and one "hold" - LSEG data
(Reporting by Conrad Kuepper)
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