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On Wednesday, Berenberg maintained its Buy rating and EUR60.00 price target on Zeal Network SE (TIM:GR), echoing positive sentiments about the company’s financial performance. The endorsement comes after Zeal Network reported first-quarter results for 2025 that exceeded Berenberg’s expectations.
The firm’s analyst highlighted Zeal Network’s robust performance in 2024 and a promising start to 2025, with Q1 results surpassing forecasts. Despite the company’s decision to uphold its full-year guidance for 2025, the analyst suggested that the guidance might be on the conservative side, especially considering the strong Q1 outcomes.
Berenberg pointed to Zeal Network’s significant cash reserves as a key factor in the company’s potential for growth. In 2024, the company utilized its liquidity to launch a tender offer for share repurchases. The analyst indicated that a similar offer could be on the table for this year, or alternatively, the company might opt for special dividends if its positive performance persists.
The firm’s outlook on Zeal Network remains upbeat, with expectations that the company will continue to leverage market trends to drive further growth and deliver substantial cash returns to shareholders. Berenberg’s reiteration of the Buy rating and the EUR60.00 price target reflects confidence in Zeal Network’s strategic direction and its ability to sustain its financial momentum.
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