Panmure Liberum has revised Computacenter PLC (LSE:CCC)’s price target downward from 3,350p to 3,185p, reflecting a reduction in the company's full-year adjusted profit forecast for 2024.
The IT services provider’s third-quarter performance fell short of expectations, driven primarily by slower corporate spending and delays in North American order completions.
Additionally, adverse foreign exchange impacts are projected to reduce adjusted profit before tax by £7-8 million this year.
Despite the downgrade, Panmure Liberum maintained a ‘buy’ rating on the stock, pointing to potential medium-term value from improved operational margins.
Shares are currently swapping for 2,330p.