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Investing.com - Berenberg raised its price target on Pinewood Technologies PLC (LON:PINE) to GBP7.00 from GBP5.90 on Wednesday, while maintaining a Buy rating on the stock.
The price target increase follows Pinewood’s H1 2025 results released Wednesday, which showed what Berenberg described as "excellent topline growth, strong profitability and further strategic progress."
A key highlight from the results was Pinewood’s new medium-term guidance for underlying EBITDA of £58m-62m in FY28, implying a 5-6% FY25-28 CAGR at the midpoint of the company’s FY25 and FY28 guided ranges.
Berenberg noted that Pinewood faces temporary impacts to near-term numbers, including a one-time £1.3m accounting impact and a one-quarter delay of an implementation with a major customer.
Despite these short-term factors, Berenberg indicated that Pinewood’s guidance represents "a material upwards revision of medium-term market expectations."
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