Nemetschek SE: Delay of IT projects becomes more likely; PT down; Remains a HOLD

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What's it all about ?

Nemetschek’s target industry, the construction sector, has been booming over the last decade. However, there are further signs that the buoyant activity is slowing sharply amid fears of a recession and rising interest rates further clouding the outlook. A digital, accurate and predictive planning can compensate for macroeconomic weaknesses through cost transparency, and we therefore remain optimistic that the long-term development of Nemetschek will remain intact. However, we see a risk that customers’ IT-projects and aim for digital transformation will be postponed. We believe, FY 22 should be in the books, but the following years could become more challenging. Consequently, we reduce our estimates and arrive at a new PT of EUR 56.00. Remains a HOLD.

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Die Nemetschek Aktie wird zum Zeitpunkt der Veröffentlichung der Nachricht mit einem Plus von +2,59 % und einem Kurs von 53,08EUR auf Tradegate (22. September 2022, 10:24 Uhr) gehandelt.