Analyst from BM PKO BP advises selling CCC shares over aggressive accounting
PKO BP analyst Piotr Łopaciuk has issued a “sell” recommendation for CCC, cutting the target price to PLN 105 and pushing the stock down to PLN 130. He argues that CCC’s situation is weaker than previously assumed and that limited transparency made the company vulnerable to short seller Ningi Research, even if its claims were exaggerated. His projections for the current fiscal year fall well below consensus, with estimated revenue of PLN 11.28 billion, EBITDA of PLN 1.7 billion and net profit of PLN 431 million, which are 6 percent, 13 percent and 38 percent under consensus.
Bloomberg data shows seven buy, three hold and three sell ratings, with an average target of PLN 186.
(pb.pl)