cyan AG: MAINFIRST analysts confirm ‘outperform’ recommendation and raise price target to 44 Euro
DGAP-News: cyan AG / Key word(s): Research Update
19.07.2018 / 15:18
cyan AG: MAINFIRST analysts confirm “outperform” recommendation and raise price target to 44 Euro
Munich / 19 July 2018: The equity analysts of MAINFIRST confirm their “outperform” recommendation for the share of cyan AG. Their current research update raises the price target from 40 euros to 44 euros. Compared with the current share price of Euro 24.90, the share price potential is around 75 %.
The analysts essentially justify their recommendation with the acquisition of I-New by cyan. This acquisition makes cyan a leading one-stop-shop for MVNOs worldwide. The transaction price seems very attractive to the analysts and in particular the additional manpower, of which the vast majority software engineers, should clearly speed up the strategic development of the company.
Due to the acquisition, MAINFIRST raises its forecasts and thus takes into account the consolidation of I-New. According to MAINFIRST, the new estimates are at the lower end of cyan’s guidance. MAINFIRST expects sales of more than 14 million euros in 2018 and more than 35 million euros in 2019, with an EBITDA of more than 7 million euros in 2018 and more than 20 million euros the following year. The long-term strategic positioning is now also assessed even more positively.
About cyan AG
19.07.2018 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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