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(Sharecast News) - Analysts at Berenberg upgraded their recommendation for shares of Informa as Covid-19 as authorities around the world began lifting their Covid-19 restrictions.
In its largest for example, the UK, restrictions on trade shows remained in place but other markets such as the US were now open for business, they pointed out.
So while consensus forecasts for the British publisher and conference organiser's profits needed to fall, the medium to long-term outlook remained "very solid".
"Restrictions, which have prevented the running of large trade shows, are being eased globally, and while 2021 shows will be smaller and less profitable than normal, we think they set Informa up for a substantial recovery in profitability from 2022," the analysts said in a research note sent to clients.
With a view to the solid upside now on offer on a 12-month view, the German broker also bumped up its target price from 610.0p to 640.0p.
"As 2021 begins to fade in the rear-view mirror, and 2022 becomes the main focus of investors, we think Informa has potential for a strong recovery. Buy."
19 May 2023 09:07
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