Berenberg Starts Costain Group at Buy, Lifts Trustpilot Target

Berenberg initiated coverage of Costain Group (LON: COST) with a Buy rating and a 140p per share price target in a note Monday, citing improved profitability and stronger free cash generation. 

The firm’s analyst, Edward Prest, noted that the UK-based infrastructure services firm has successfully navigated past challenges, positioning itself for future growth.

Meanwhile, Berenberg raised its price target for Trustpilot from 330p to 410p a share, maintaining a Buy rating on the stock. 

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The firm’s revised FY24 adjusted EBITDA forecast for the company stands at $23.2 million. However, they see the potential for further upside. The analyst highlighted Trustpilot’s strong performance and sees room for further gains beyond current market expectations.

Elsewhere on Monday, the Pinewood Technologies share price target was raised by Berenberg from 455p to 510p, with the firm maintaining its Buy rating on the stock.

Berenberg is confident in these companies’ ability to deliver growth as Costain continues its turnaround, Trustpilot capitalises on market opportunities, and Pinewood Technologies strengthens its position.