CENIT AG : Slight downward adjustments to our estimates and TP following the company’s revised 2018 outlook and lagging H1 results
>H1 2018 results below our estimates but in line with lowered guidance - Cenit AG released H1 2018 results which came in below our original estimates but were in line with the company’s revised outlook for 2018 issued on 30 July. We now adjust our estimates in accordance with the company’s reduced guidance and the Q2/H1 results published yesterday (02 August). Our new, risk-adjusted DCF-based model renders a TP of € 25.40 per share (previously: € 26.80), equating to u...Cenit is a holding company, engaged in the IT services and consulting industry. Co. provides all types of services in the field of introducing and operating information technology and to sell and market information technology software and systems. Co. has two business divisions: Product Lifecycle Management (PLM) and Enterprise Information Management (EIM). The PLM segment focuses on industrial customers and the corresponding technologies. Its industry focus is on the automotive, aerospace, mechanical engineering and shipbuilding industries. The Enterprise Information Management (EIM) segment focuses on the customer segment of trade and commerce, banks, insurance firms and utilities.
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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