18. March 2019 | Corporate News
– Research department of MainFirst Bank AG rates CANCOM with “Outperform”.
– Strategic strengthening of cloud-based Managed Services business creates high growth and margin potential.
Munich, Germany, 18 March 2019 – MainFirst Bank AG initiated the coverage of CANCOM SE shares with a first research report. Thus the development of CANCOM is now analyzed on a regular basis by seven banks. MainFirst rates the CANCOM share in its initiation report with “Outperform” and a price target of EUR 44.
The report underlines two main factors for the positive rating: On the one hand “CANCOM is actively tackling the transformation into a provider of Managed and Cloud Services, which should translate into superior growth, paired with higher margin potential”. On the other hand MainFirst analyzes: “With its strong balance sheet and extensive track record in M&A, we see CANCOM as best placed to capitalize both organically and through acquisitions in the shift from a traditional IT-reseller towards a provider of shared managed solutions.”
As a Digital Transformation Partner, CANCOM accompanies companies into the digital future. The CANCOM Group’s range of IT solutions includes consulting, implementation, services and the operation of IT systems. Customers benefit from the extensive expertise and an innovative portfolio that covers the IT requirements of companies necessary for a successful digital transformation, for example with business solutions and managed services for IT trends such as cloud computing, analytics, enterprise mobility or security.
The worldwide more than 3,000 employees of the internationally active CANCOM Group and an efficient partner network ensure market presence and customer proximity in Germany, Austria, Switzerland, Belgium, the United Kingdom and the U.S.A. The CANCOM Group is led by Thomas Volk (CEO), Rudolf Hotter (COO) and Thomas Stark (CFO). The company is headquartered in Munich. CANCOM has an annual turnover of over one billion euros and its parent company, CANCOM SE, is listed on the TecDAX and SDAX of the Frankfurt Stock Exchange (ISIN DE0005419105).