Bechtle AG : Mixed results in Q3 do not affect long-term prospects for Bechtle
>Lower end of top-line guidance seems to be the most likely outcome now - After the release of Q3 results, which were below consensus revenue estimates, we adjusted our model accordingly. We do not see a major impact on the long-term outlook for Bechtle and therefore confirm our Outperform rating and target price of € 54 per share. We reduced our 2023e revenue estimates by -3.1% to € 6,341.6m and our EPS estimates by -1.4% to € 2.12 (i.e. +6.2% y-o-y). As a result, ou...Bechtle is engaged in the business as an information technology (IT) dealer. Co. provides IT services combining with online marketing of IT products. Co. provides vendor-independent, IT portfolio to its customers from the fields of industry and trade, the public sector and the financial industry. Co. operates within two segments: IT system house & managed services segment, which provides its customers with IT strategy consulting services, hardware and software, project planning and implementation, system integration, IT services, training and IT operation; and the IT e-commerce segment, which comprisesCo.'s Internet, catalogue and telesales trading activities.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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