Davy Stockbrokers has said they regard Horizon Technology shares as undervalued compared to its peers.
In a research note they said that first half revenue of €146.31m was slightly ahead of their forecast of €44.5m, with EBITDA 10% ahead of expectations.
'Based on the growth to date and future prospects for both the Irish service-based business and the UK infrastructure-oriented business, we feel that the stock is undervalued compared to its peers', Davys said.
Davys reiterated their 140c price target, 44% above today's price.
