DZ Bank Raises Nemetschek to EUR 60 – ‘Sell’

DZ Bank Research issues rating action on Nemetschek SE (ETR: NEM)

DZ Bank Research lowered its recommendation for Nemetschek shares from 'hold' to 'sell' in a research report issued to clients and investors on Friday. The bank downgraded Nemetschek SE to ‘Sell’ and assigned the stock a price target of EUR 60, against €96.76 at the close of trading on Thursday.

Nemetschek SE (ETR: NEM) stock price

Nemetschek SE stock opened at €96.86 on Friday and hit a session low of €96.52 before recovering to trade at €96.56. The stock has a market cap of €15.05 billion and a price-to-earnings ratio of 94.08. The company has a 1-year low of €73.36 and a 1-year high of €110.40.

DZ Bank Research's rating action

DZ Bank Research lowered its recommendation for Nemetschek shares on Friday from 'hold' to 'sell,' with a price target of EUR 60. The bank cited concerns about the company's growth prospects and the current market environment.

The bank's analysts said that Nemetschek's growth prospects have been tempered by recent economic headwinds. They also said that the company's shares are relatively expensive compared to other companies in the sector.

The analysts added that they believe the current market environment is not conducive to growth for companies like Nemetschek. They said that the rising interest rates and the uncertainty caused by the war in Ukraine are creating a challenging environment for the company.