Allterco JSCo: Initial study by Montega Research rates share as a smart investment with a price potential of 56%

Allterco JSCo: Initial study by Montega Research rates share as a smart investment with a price potential of 56%

Sofia / Munich, 2 August 2022 – The analysts at Montega have initiated coverage of the Allterco JSCo share (ticker: A4L / ISIN: BG1100003166) (“Allterco” / “the Company”), a provider of IoT and smart home products based in Sofia, Bulgaria. In their initial study, the experts for small and mid-cap equity research emphasize Allterco’s successful track record and high earnings quality, which have been reflected in a correspondingly positive share price performance over the past two years, and in view of the expected good newsflow and the attractive growth prospects see a good opportunity for a “smart” investment.

Accordingly, Montega analyst Tim Kruse expects consolidated sales to grow by an average of over 30% per year to BGN 150 million (EUR 77 million) by the 2024 financial year, driven by Allterco’s strong competitive position and the growth prospects resulting from an increasing intensification of sales activities and the associated expansion of market shares. Following the significant increase in structural costs in 2022 (in particular sales and marketing), the experts expect EBIT to increase to BGN 37 million (EUR 19 million) by the 2024 financial year by virtue of economies of scale, which corresponds to an EBIT margin of 25%.

Based on a DCF model, Montega sees a price target of BGN 28.00 (EUR 14.31). From the current price level of BGN 17.95 (EUR 9.18) as of end of July, this corresponds to a price potential of 56%.

The full study (German only) is available here. The English translation will be available shortly.

For further information, please visit allterco.com.

About Allterco
Allterco JSCo is a technology holding company that stands for innovation through the development, manufacture, and distribution of high-quality IoT products. End users and their needs are always at the heart of development. Allterco was founded in Bulgaria and works with a team of young, talented developers who are dedicated to producing competitive and user-friendly products. The Group consists of 5 subsidiary companies and has offices in Bulgaria, China, USA and Germany. Allterco’s products have already conquered over 100 markets. Allterco JSCo has been listed on the Bulgarian Stock Exchange since December 2016 and on the Frankfurt Stock Exchange as of November 2021 where its shares are traded under GSIN A2DGX9, ISIN BG1100003166, ticker A4L.

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