FRANKFURT (dpa-AFX Broker) - Compugroup shares benefited on Thursday from a positive study by the US investment bank Morgan Stanley. At the securities dealer Lang & Schwarz, the shares rose in early trading by 3.4 percent to 29 euros compared to the Xetra close on the previous day. In mid-March, after months of losses, the share price had fallen to EUR 26.48, its lowest level since the end of 2015.

Morgan Stanley analyst Laura Metayer upgraded the share from "equal-weight" to "overweight", mainly due to the recent price losses. The target price remains at 37 euros. The expert justified the new rating with a low valuation of the shares of the healthcare-focused software developer.

A price/earnings ratio of 13 based on estimates for 2024 is "a rare opportunity to buy a software share". From an operational perspective, the expert praised the company's high proportion of recurring revenues./bek/zb

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