Cancom SE : Target price increased to € 32.0 per share on better-than-expected KBC contribution
>2024e to be a challenging year with continued subdued demand - We expect 2024 to be another difficult year for CANCOM with low organic growth as demand from small- and medium-sized business is expected to stay muted going into 2024. However, while we previously anticipated KBC to have a margin dilutive contribution to the whole group, this assumption seems to be too pessimistic. Additionally, CANCOM recently acquired the segments of German IT specialist DextraData Gm...Cancom is an information technology ("IT") systems vendor. Co. is engaged in the provision of information technology (IT) products and services. Co. divides its products and services in four divisions: IT solutions, providing security, network and system solutions, communication, storage, backup and archive services, and IT management; IT services, offering rollout, installation, move, add, change (IMAC) of IT solutions, support and repair, and managed services; IT operations, providing remote management, outtasking and outsourcing, and Hard and Software, supplying hardware, software and accessories.
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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