on CENIT AG (isin : DE0005407100)
Cenit AG: GBC AG Recommends 'BUY' with Raised Target Price
GBC AG has classified Cenit AG with a 'BUY' rating, setting a new target price of €24.15, up from €20.55. Analysts Cosmin Filker and Marcel Goldmann cited significant sales growth and strategic acquisitions as key factors.
In the first half of 2024, Cenit AG reported a 6.7% increase in sales to €93.36 million. Despite this, EBIT declined to €2.01 million. Adjusted EBIT, excluding acquisition-related expenses, would show a 33.2% increase to €2.62 million.
On July 17, 2024, Cenit AG acquired 60% of US-based Analysis Prime LLC for a base price of USD 14.31 million. The acquisition is expected to enhance Cenit's presence in the US market, offering significant cross-selling opportunities.
For 2024, Cenit forecasts sales between €195 million and €202 million and EBIT between €11.70 million and €12.20 million. The inclusion of Analysis Prime is expected to contribute USD 11.50 million in sales and USD 2.70 million in EBIT for the remainder of 2024.
R. E.
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