NuWays Raises beaconsmind AG Price Target to EUR 16.00, Maintains "Buy" Rating

NuWays has upgraded its price target for beaconsmind AG to EUR 16.00, an increase from the previous EUR 15.00, while maintaining a "Buy" rating. This decision reflects confidence in beaconsmind's continued growth, driven by strong revenue and EBITDA in the first half of 2024. The company, a leader in SaaS and IT infrastructure, focuses on digital transformation and location-based marketing. The current share price on Xetra is EUR 6.30 as of 8 October 2024.

NuWays attributes beaconsmind's positive performance to successful acquisitions over the past two years and new customer wins, setting the company on track to meet its annual targets. Future growth is anticipated from expansions into Spain and the MENA region, although these are not yet included in the current price target.