GlobalData Shares Have an Attrative Investment Case

GlobalData (LON: DATA) shares are down more than 8% in the last three months, but according to analysts at Berenberg, the company has an “attractive investment case.”

In a note to clients this week, Berenberg analyst Ciaran Donnelly initiated coverage of GlobalData with a Buy rating and 295p price target.

GlobalData provides business information through high-quality proprietary data, analytics and insights to clients across the healthcare, technology and consumer sectors.

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Despite the more recent decline, GlobalData shares are up just over 6% this year and more than 34% in the last 12 months, with the stock currently trading around the 209p a share mark.

Overall, Berenberg believes the company has “an impressive management team and a clear strategy to tie an attractive investment case together.”

In a note to clients in June, Deutsche Bank was more cautious on the company’s shares, initiating it with a Hold rating and 250p target price, telling investors they see a rising need for high quality intelligence and data in a fast-moving disrupted world.

Data compiled by TradingView shows that five out of six analysts currently have a Buy rating on GlobalData shares, with just one Hold rating.

The average price target is currently 278p, representing a potential 32.8% upside from current levels.