Analyst Andrew Wade from Jefferies maintained a Buy rating on Pinewood Technologies (PINE – Research Report) and increased the price target to p600.00 from p575.00.
Andrew Wade has given his Buy rating due to a combination of factors that highlight Pinewood Technologies’ strong performance and future potential. The company has demonstrated impressive strategic execution over the past year, which has solidified its growth prospects. This positive outlook is further supported by the recent fiscal year results, which align with expectations and indicate a stable foundation for continued success.
Wade’s analysis includes an updated model that reflects the current financial standing of Pinewood Technologies, with no significant changes to core estimates aside from adjustments related to the timing of equity raise dilution. This stability in projections, combined with the anticipation of user growth and an updated share count for FY25, reinforces the confidence in the company’s ability to deliver on its strategic goals. As a result, Wade maintains a firmly positive stance on Pinewood Technologies, justifying the Buy rating.
According to TipRanks, Wade is a 3-star analyst with an average return of 0.7% and a 41.42% success rate.
In another report released on April 1, Berenberg Bank also reiterated a Buy rating on the stock with a p590.00 price target.