Berenberg starts WIIT with 'buy' on cloud growth potential

Wiit SpA

04/02/2025 07:49

** Berenberg initiates coverage of Italy's WIIT  WIIT.MI 
with "buy" as it sees improved profitability and returns driven
by its core cloud services business
    ** The Italian cloud computing and cybersecurity services
provider has engaged in more than 10 M&A deals since its IPO in
2017, mainly throughout the Germany, Austria, Switzerland
region, the brokerage says
    ** Cloud adoption by Europe's small and medium-sized
enterprises lags behind, in particular by Italian and German
companies, it adds
    ** Berenberg sees the Italian and German cloud market growth
potential at a double digit compound annual growth rate for the
near future
    ** WIIT can also benefit from EU regulatory requirements
driven by digital sovereignty concerns that are increasing the
demand for EU-based data centres, it adds
    ** Out of five analysts that cover WIIT, four rate the stock
"strong buy" or "buy" and one analyst rates it "hold"

 (Reporting by Philippe Leroy Beaulieu)
 ((Philippe.leroybeaulieu@thomsonreuters.com))