Jefferies starts 'undervalued' TKH with 'buy', shares rise

TKH

24/05/2024 09:09

May 24 (Reuters) -    ** Shares in TKH  TWKNc.AS  rise
3.3% after Jefferies initiates the Dutch technology company with
a "buy" rating and 56 euros ($60.58) target price
    ** "We believe TKH Group is an undervalued technology
conglomerate", the broker said in a note
    ** Jefferies believes the group's further divestment of
non-core activities, and progress towards its goal of a 17%
EBITA margin will partly reduce its 42% conglomerate discount
already in the second half of 2024
    ** The new TP implies a 36% upside to the stock's last
closing price

($1 = 0.9245 euros)

 (Reporting by Nathan Vifflin)
 ((nathan.vifflin@thomsonreuters.com; +48 58 769 67 13;))