DM mBanku neutrally estimates IT companies, favores Atende
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DM mBanku neutrally estimates perspectives of IT companies on The Warsaw Stock Exchange (GPW), keeping “overweight” rating for Asseco South Eastern Europe, Atende, and Wasko. The brokerage gives “underweight” recommendation for Asseco Poland.
DM mBanku estimates that in the first quarter of 2018 the average growth of EBITDA for IT companies, covered by the brokerage, was 4.6 percent, it says in a report. The growth is low compared to Q4 2017, when EBITDA grew on average by 47.4 percent, a report author Paweł Szpigiel said.
The brokerage favores in IT sector Atende, traded with over 30 percent discount based on price-to-profit ratio, the report says. The company is currently valued at 10.4 times of the profit forecasted by analysts for 2018.
