Street Calls of the Week
Investing.com - Berenberg has initiated coverage on secunet Security Networks AG (YSN:GR) with a Buy rating and a price target of EUR233.00, according to a research note released Tuesday.
The German cybersecurity specialist is positioned as Germany’s leading provider of mission-critical cybersecurity solutions, protecting sensitive data, critical infrastructure, and communication networks.
Berenberg highlights that the public sector accounts for approximately 90% of secunet’s revenues, placing the company in a unique position to benefit from two structural growth drivers: public-sector digitalization and defense spending.
The research firm notes that public-sector digitalization in Germany remains at an early stage but is expected to accelerate in the coming years.
Simultaneously, Berenberg points out that defense spending is increasing as Germany works toward meeting its 5% military spending ambition by 2035, creating additional growth opportunities for secunet.
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