Infomedia has signed a pan-European contract with Ford Europe to provide the Next Gen Microcat EPC solution.
In UBS’s view, the contract is strategically important since it suggests channels for new business discussions with OEMs are open. Also, the contract is a validation of the new Next Gen EPC product.
UBS expects softer revenue growth in the first half although anticipating improving business activity, which the broker believes bodes well should bode well for the second half.
Maintain Buy with the target price rising to $2.20 from $2.15.
Sector: Software & Services.
Target price is $2.20.Current Price is $1.70. Difference: $0.50 – (brackets indicate current price is over target). If IFM meets the UBS target it will return approximately 23% (excluding dividends, fees and charges – negative figures indicate an expected loss).
