Berenberg Keeps Bechtle's Buy Rating After Capital Markets Day

05:52 AM EDT, 09/21/2026 (MT Newswires) -- Berenberg maintained Bechtle (BC8.F) at buy, with a price target of 40 euros, following the German IT service company's capital markets day on Sept. 17. "For 2030, Bechtle underpinned its vision rather than setting a formal target, aiming for an EBT margin approaching 5% of business volume... Management highlighted three margin expansion levers: organic volume growth and operating leverage, a mix shift towards IT services alongside internal productivity gains, and selective M&A. Regarding profitability steering, management targets EBIT as a percentage of gross profit north of 30.0% in the medium term, up from 28% in FY 2025," the research firm said Monday. Analysts also noted that the company affirmed its outlook for full-year 2026. Meanwhile, Berenberg said September trading volumes will be "decisive" for the company's third-quarter performance after July and August trading were in line with expectations. "The order backlog continued to build, underpinned by sustained demand from the public sector and SME clients," according to the note. As such, analysts maintained their sales, EBT, and EPS projections for 2026 to 2028.