EVS: From Slow Motion to PLAYForeward; aiming at ‘Return On Emotions’ - Accumulate TP € 20 EVS BB
We updated our model as all 3 EVS’ market pillars of revenues are impacted by Covid-19. On the other hand EVS is hinting that traction for remote production workflows has significantly increased due to precautionary health measures with some customers leveraging key features of EVS workflows. EVS accelerates the development of additional features within its products to support its customers in their challenges. Also the Axon acquisition, EVS’ new 4th pillar, will result in a significant transformation of EVS activities leading to a size increase of +/-20%. We upgrade our rating to Accumulate (was Hold) and our TP to € 20 (was € 17).EVS Broadcasting Equipment is engaged in the development and marketing of audiovisual equipment relating to the processing of pictures and sound. Co. provides solutions based on tapeless workflows with a consistent modular architecture. Co.'s activities are divided into the following regions: Asia-Pacific, Europe, Middle East and Africa, and America.
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