Analyst Charles Brennan from Jefferies maintained a Buy rating on Temenos (TMNSF – Research Report) and keeping the price target at CHF72.00.
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Charles Brennan has given his Buy rating due to a combination of factors demonstrating strategic and financial prudence by Temenos. The company has made a decisive move to sell its Multifonds business to a Private Equity firm for an enterprise value of approximately $400 million. This transaction, though anticipated, is viewed as a strategic shift to allow Temenos to concentrate on its core operations.
The sale of Multifonds, which contributes about 6% to both the group’s revenue and enterprise value, aligns with the company’s strategy to divest non-core assets. This move is seen as a positive step in enhancing the company’s focus and efficiency, supporting the Buy rating given by Charles Brennan.
Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TMNSF in relation to earlier this year.