Wavestone shares were up nearly 6% at the end of the day following the announcement of its results and forecasts, and benefited from several positive analyses.

Wavestone reported a 28% increase in net income (group share) to 23 million euros for the first half of 2023-24, with a current operating margin of 13.3%, compared to 12.5% for the same period last year.

Wavestone confirmed its full-year targets, including sales in excess of 580 million euros and a recurring operating margin of around 15%.

Following this publication, Oddo BHF reiterated its 'outperform' rating on Wavestone, with its target price raised from 56 to 60 euros to take account of its new forecasts and the value creation associated with the acquisition of Q_Perior.

Aware of the risks inherent in this type of operation (which he considers more moderate), and of the macro risk (the company seems well equipped to face them)', the analyst nevertheless considers the stock market opportunity linked to this operation to be attractive.

In addition, after half-year results judged to be very satisfactory and slightly ahead of expectations, Oddo BHF believes that Wavestone 'seems to be displaying a resilience in the current environment that the market has not hitherto recognized'.

Stifel is also reaffirming its 'buy' recommendation and €60 price target on Wavestone, following the firm's publication of its results for the first half of 2023-24, marked by solid cost control and confirmation of annual targets.

The broker also considers the group's targets to be cautious, as it believes it is "in a position to increase its occupancy rate in the second half of the year", but warns that "visibility has been greatly reduced for calendar year 2024".

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