Computacenter Upgraded by Berenberg, Stock Surges Following Positive Outlook
Computacenter PLC shares rose 3.6% to 4,746 pence after Berenberg upgraded the IT services provider to 'buy' and raised the price target to 5,300 pence. The upgrade follows strong trading updates, indicating better-than-expected demand in North America and solid growth in the UK.
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Shares of Computacenter PLC increased by 3.6% to 4,746 pence after Berenberg upgraded the company's rating from 'hold' to 'buy' and raised its price target from 3,450 pence to 5,300 pence. Berenberg's more optimistic outlook is supported by a trading update showing a projected pre-tax adjusted profit of approximately £163 million for the first half, exceeding consensus estimates of £155 million.
The brokerage has raised gross margin forecasts for 2026, 2027, and 2028 by 4%, 5%, and 6% respectively, and adjusted operating profit estimates by 17%, 15%, and 17%. Continued momentum in North America and the UK, along with improving performance in Germany, presents upside potential. However, a slowdown in hyperscale data center spending, particularly from Meta, poses a significant risk.
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