Martin Comtesse, an analyst from Jefferies, maintained the Hold rating on adesso AG (0N5I – Research Report). The associated price target remains the same with €85.00.
Martin Comtesse has given his Hold rating due to a combination of factors related to adesso AG’s recent financial performance and future outlook. The company reported a notable 14.2% sales growth for 2024, with an improved EBITDA margin in the second half of the year, suggesting a recovery in operational efficiency. However, the overall EBITDA margin for the year was slightly burdened by high investments in the product business, which are anticipated to decrease in the coming year.
Looking ahead, the company’s guidance for 2025 aligns with market expectations, projecting sales between €1.35-1.45 billion and an increase in EBITDA to €105-125 million. While capacity utilization is expected to improve and the product business is anticipated to gain momentum in the latter half of 2025, these factors contribute to a cautious outlook. The balance of positive growth indicators and ongoing investment pressures likely influenced the decision to maintain a Hold rating.
According to TipRanks, Comtesse is a 2-star analyst with an average return of -0.1% and a 43.22% success rate.