On Monday, Berenberg raised its target price for SES-imagotag shares from €170 to €175 on the back of a promising 2023 outlook.

The financial intermediary acknowledges that the 2022 annual results of the specialist in electronic labels for the retail sector did not offer any major surprises.

The management team continues to follow its trajectory of higher growth and improved profitability, while reiterating its objectives for 2023", the analyst recalls in a note.

According to Berenberg, the negative reaction of the share price is due to the temporary surge in the group's investments, an element which the professional nevertheless considers necessary in order to obtain large contracts.

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