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Berenberg starts Concurrent Technologies at 'buy'
(Sharecast News) - Analysts at Berenberg initiated coverage on embedded computer products manufacturer Concurrent Technologies with a 275p target price and a 'buy' rating on Thursday, calling the group a "top 'PIC'".
Berenberg said Concurrent Technologies stands at "the intersection of high growth defence markets and digitisation" as a designer and manufacturer of rugged computing systems for the defence industry - including high-performance single-board computers (SBCs) and plug-in cards (PICs).
The German bank said Concurrent's recent strategic shift, enacted by new management, has effectively capitalised on "favourably changing conditions" in the firm's large-end markets.
"That story remains in its early stages and the benefits of those dynamics are set to crystalise in the coming years - particularly as Concurrent continues its recent momentum in contract wins and as its recent record design wins begin to translate into revenue," said Berenberg. "We expect significant long-term potential for the company and it is a top 'PIC' for us."
Reporting by Iain Gilbert at Sharecast.com
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