SEB upgrades its recommendation for software company QT Group to Buy from Hold and raises the price target to EUR 40 from EUR 34.
SEB expects the acquired IAR to drive growth in 2027 through the transition to subscriptions and cross-selling. At the same time, the bank believes consensus is too low regarding profitability in the coming quarters and in 2027.
SEB considers the projected valuation discount for 2027 attractive in light of improved momentum and short-term upside risks.
