Kepler upgrades TomTom to 'buy' on 'lean and mean' transformation

TomTom NV

07/10/2025 08:03

** Kepler Cheuvreux upgrades Dutch mapping specialist TomTom TOM2.AS to "buy" from "hold", citing improved cash flow prospects and long-term growth potential

** "TomTom is becoming lean and mean as a result of its transformed Orbis Maps," which allows it to focus on value-added proprietary data layers, says broker

** Kepler adds that quality of co's platform is validated by recent high-profile contract wins from clients such as Bolt, BMW Motorrad, Microsoft, and Hyundai

** Recent restructuring improved the company's 2025 free cash flow guidance to 5% of revenue, leading Kepler to expect a c. EUR 30 million share buyback programme for FY 2026

** Of 4 analysts that cover TomTom, two rate the stock "strong buy" or "buy", ​one rates "hold" and one rates it "strong sell"​​ - LSEG data

 (Reporting by Dimitri Rhodes)

 ((Dimitri.rhodes@thomsonreuters.com))