Escher Group Holdings Share News (ESCH)

Panmure Gordon has retained its 'buy' rating and 488p target price for software solutions group Escher, saying that the business will benefit from the stock-market debut and increased scrutiny of Royal Mail.Escher is the global leader selling software which enables Post Office Authorities to run their current transactions and their point-of-service applications. Meanwhile, the company helps customers move to an internet-based development model or to mobile/wireless."In the connected digital world, although we will send fewer letters (bad news, Postie!) in truth we communicate more, not less. [...] Escher is leading postal clients through the digital revolution," Panmure said."As the ballyhoo about the Royal Mail initial public offering pricing abates, wise heads will look to Escher as a lead indicator of what 'good looks like' in the postal industry. Escher can only benefit from the increased capital markets scrutiny on this industrial segment."The broker expects Escher's sales to increase to $28.5m in 2013, up from $23m previously, while pre-tax profit is forecast to jump from $5.5m to $9.8m.The stock was down 0.95% at 260p on Monday morning.BC