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Investing.com - Kepler Cheuvreux upgraded Reply SpA (BIT:REY) from Hold to Buy while slightly lowering its price target to EUR152.00 from EUR155.00.
The upgrade follows Reply’s Q3 2025 results, which demonstrated operational resilience despite a slower IT spending environment across the industry.
The digital transformation company maintained stable growth at 5.3% on a like-for-like basis, while margins outperformed expectations due to AI-driven delivery efficiencies and disciplined cost control measures.
Kepler Cheuvreux noted that Reply management expects steady growth to continue into 2026, with profitability remaining structurally higher than previous levels.
The investment firm believes current share price levels offer an attractive entry point with 20% upside potential, as near-term growth concerns appear already priced into the stock of the AI-leveraged digital transformation provider.
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