Tecnotree har väckt mycket diskussion på sistone. Här är en färsk analys av bolaget.
Tecnotree held an investor event on Friday in an attempt to provide background information on the Pericius deal. However, we did not get answers to all the worrying details. The company also issued cash flow guidance for next year and published a dividend policy, according to which free cash flow (and profit distribution) are set to remain slim and below our expectations. Given the weak cash flow and the ongoing uncertainties regarding corporate governance, we recommend that investors remain on the sidelines, at least for the time being, due to the elevated risk profile. We lower our recommendation for Tecnotree to Sell (was Reduce) and set our target price to EUR 3.00 (was EUR 5.50).