Report
Gregory Ramirez

SWORD GROUP: A new stage of repositioning is under way | BUY | EUR40 vs. EUR35 (+13%)

SWORD GROUP - BUY | EUR40 vs. EUR35 (+13%)
A new stage of repositioning is under way

We raise our Fair Value to EUR40 on better momentum ahead
Dynamic portfolio management is the key for maximising TSR
We are confident in growth drivers: EU deals and diversification
Acquisitions in GRC software and the UK are at the agenda
Underlying
Sword Group SE

Sword Group is a service company specializing in computer engineering, offering consulting and integration services to its customers. Co. is engagedin the implementation of innovative solutions that meet the strategic needs of its clients and adaptation requirements of their information systems. Co.'s business covers three main areas: IT Service, Solutions and Communication Technologies. In addition, Co. also provides Government Risk Management (GRC) solutions to its customers in the industries of energy, transportation, healthcare, insurance, banking, telecommunications, and international and governmental organizations. Co. offers two product lines and four solutions.

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
Gregory Ramirez

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