Bechtle share: Upward trend confirmed

Last Updated: 24. Januar 2024By

Bechtle stock was already one of the winners in the MDAX with a solid performance in 2023. Now, the stock has also started strong in the new year of 2024 and has been trading about 7 percent higher since the beginning of January (as of January 24, 2024, at approximately 10 am). This IT company is thus confirming the positive trend.

However, the Bechtle stock is still a good distance away from the record levels of 2020 and especially 2021. Not without reason, most analysts are therefore looking optimistically at the stock at the beginning of the new year and see higher price targets. Medium and long-term oriented investors should keep an eye on the MDAX company.

Bechtle with growth and good prospects With the numbers for the third quarter of 2023, Bechtle has overall convinced. Although only minimal growth was recorded in revenue, the IT company earned around 5 percent more than the previous year. The results for the full year 2023 will be presented in mid-March.

Bechtle continues to benefit from the fact that, among other things, the public sector, as well as medium and large companies, are modernizing their IT and have digitalization projects on the agenda. The company is therefore looking optimistically at the coming years.

At the same time, Bechtle is growing due to several acquisitions. Most recently, the French IT systems house Apixit was acquired. Bechtle has also made acquisitions in the UK, Spain, and Switzerland.

Bechtle stock: Analysts see opportunities Not only can the performance of Bechtle stock in the still young 2024 stock market year be seen, but the analyst opinions have also been very positive so far. The majority still sees buying opportunities for the stock of the IT company. In the last 2 weeks alone, 4 analyses have already been updated.

Most recently, UBS confirmed its „Neutral“ rating, but raised the price target for Bechtle stock from 43.80 to 47.00 euros. Warburg Research (confirmed a price target of 59 euros), Deutsche Bank (raised price target from 57 to 59 euros), and Baader Bank (raised price target from 58 to 64 euros) are even more optimistic about the stock of the MDAX company.

Due to the currently at least fair valuation and growth opportunities, investors should definitely keep an eye on Bechtle stock. The IT systems house has already established a good market position and can further strengthen it with possible additional acquisitions.

Source: https://aktienscreener.com