SES-Imagotag: Berenberg raises target price

(CercleFinance.com) - On Monday Berenberg has raised its target price for SES-imagotag shares from E170 to E175 (cp: E136.
5, -1.7%), thanks to a promising 2023 outlook.

The broker admits that FY 2022 results of the specialist in electronic labels for retailers did not hold any major surprises.

It says that group management is still aiming for higher growth and profitability, while reiterating targets for 2023.

Berenberg says that the share's fall due to the temporary surge in the group's investments, which analysts consider necessary for the group to win large contracts.


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