DGAP-News: cyan AG / Key word(s): Research Update
cyan AG: MAINFIRST analysts confirm "outperform" recommendation and raise price target to 44 Euro
The analysts essentially justify their recommendation with the acquisition of I-New by cyan. This acquisition makes cyan a leading one-stop-shop for MVNOs worldwide. The transaction price seems very attractive to the analysts and in particular the additional manpower, of which the vast majority software engineers, should clearly speed up the strategic development of the company.
Due to the acquisition, MAINFIRST raises its forecasts and thus takes into account the consolidation of I-New. According to MAINFIRST, the new estimates are at the lower end of cyan's guidance. MAINFIRST expects sales of more than 14 million euros in 2018 and more than 35 million euros in 2019, with an EBITDA of more than 7 million euros in 2018 and more than 20 million euros the following year. The long-term strategic positioning is now also assessed even more positively.
About cyan AG
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|
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