Midcap Partners ups Wavestone to 'buy' after 'accretive' merger with Q_Perior

Wavestone SA

06/12/2023 11:28

** Midcap Partners raises rating on Wavestone  WAVE.PA  to
"buy" from "hold," citing the French IT consulting firm's merger
with Q_Perior and short-term ability to keep margins under
control
    ** In an uncertain economic environment, Wavestone "is
confident of meeting its margin targets despite an uncertain
environment thanks to overhead savings and a favourable trend in
the price/salary ratio," the brokerage notes
    ** The company has taken "a key step" by completing the
"strategic and accretive" merger with Q_Perior, Midcap says,
adding its new model with a raised price target to 60 euros,
from 51 euros, incorporates the deal 
    ** Wavestone shares are up about 2% as of 1023 GMT
    ** Out of five analysts covering Wavestone, four rate the
stock "strong buy/buy", and one rates it "hold"
    
    
    

 (Reporting by Olivier Sorgho)
 ((Olivier.Sorgho@thomsonreuters.com))