Barco: the stock remains cheap, Berenberg says

(CercleFinance.com) - Berenberg maintains its "buy" rating on the shares of Belgian visual technology company Barco, along with its target price of 130 euros, citing an "attractive story.
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While the Chinese business remains weak, the replacement cycle for the cinema business has already started, the German broker highlights in a note.

Berenberg adds that the more profitable ClickShare (presentation systems) and UniSee (LCD video walls) businesses are performing well and "largely making up the difference."

The broker also thinks that the stock looks cheap: "The valuation remains attractive with likely future upgrades to come," it says in the report.

Barco shares are currently up 2.2% at 100 euros on Euronext Brussels.

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