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On Wednesday, Berenberg analysts adjusted the price target for ANGLE plc (AGL:LN) (OTC:ANPCY) to GBP0.30, a decrease from the previous GBP0.40, while maintaining a Buy rating on the stock. The revision follows ANGLE’s announcement of its preliminary results for the year 2024 earlier in the day, which aligned with the company’s January trading update. The results showed 2024 revenues at £2.9 million and a loss of approximately £14 million for the year.
The analysts noted that the current macroeconomic conditions, particularly concerning research funding and tariffs, are contributing to reduced visibility in ANGLE’s business operations. In response to these challenges, ANGLE’s management has adopted a cautious stance for the upcoming 2025 fiscal year, indicating expectations for only modest revenue growth. However, management also acknowledged that there is potential for revenue upside, contingent on the progress of ongoing opportunities.
In light of these factors, Berenberg has revised their estimates to reflect a more conservative outlook for ANGLE. Despite the lowered price target, the firm reiterates its Buy rating, suggesting that they still see value in the stock at the adjusted price level. The analysts’ commentary highlighted the potential for growth and the company’s cautious yet hopeful perspective on its future performance.
ANGLE’s preliminary results and the subsequent price target adjustment by Berenberg come at a time when the company is navigating a complex external environment. The firm’s decision to maintain a Buy rating, despite the reduced price target, points to their belief in the company’s fundamental strengths and the opportunities that may arise despite the current market challenges.
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