Deutsche Bank has lowered its price target for YouGov PLC (AIM:YOU), reducing it from 850 pence to 790 pence while maintaining a "buy" rating.
The adjustment comes after the pollster's financial year 2024 results, which, while positive, raised questions about the sustainability of recent gains.
According to Deutsche, YouGov’s results exceeded previous guidance but were partly driven by phasing in the integration of GFK and Consumer Panel Services, which the bank sees as a temporary factor.
Analyst Steve Liechti noted that the sentiment around the company and its prospects remains cautious due to a profit warning issued in June - although a pre-close update in August revised guidance slightly higher.
YouGov’s shares, trading at 452p (down 1.4%), appear undervalued if the company can rebuild investor trust with consistent growth and delivery.
However, Deutsche suggested this recovery may take time and is contingent on better growth in like-for-like sales.