Report
Gregory Ramirez

SWORD GROUP: Excellent start in 2021 | BUY | EUR52 VS. EUR49 (+30%)

SWORD GROUP - BUY | EUR52 VS. EUR49 (+30%)
Excellent start in 2021

We reiterate our Buy rating and have raised our target price to EUR52
In Q1 2021, all business units exceeded their budget
FY21 guidance can be beaten in our view
The GRC software R&D programme is advancing well
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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