Report
David Vignon

COMPUGROUP MEDICAL - NEUTRAL | EUR78 VS. EUR84 (+29%) 2022 guidance offers no surprise – more proof of growth acceleration needed to be positiv

COMPUGROUP MEDICAL - NEUTRAL | EUR78 VS. EUR84 (+29%)
2022 guidance offers no surprise – more proof of growth acceleration needed to be positive

2022 organic growth and EBITDA margin ranges too wide for our liking
2021 results delayed to early March due to a contained cyberattack
Impact from delay in e-prescription roll-out isn’t big for CGM
Reiterate neutral rating – lack of catalysts to be positive on the stock
Underlying
CompuGroup Medical SE & Co. KGaA

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
David Vignon

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