Broker feedback for accesso Technology Group PLC was positive after the company provided updates on trading and the status of tie-ups with two of its biggest partners.
It said expectations for the 2022 financial year remained unchanged as it told investors it had extended agreements Merlin and Six Flags.
“This is tremendous news in our view and goes to show accesso’s investment in future-proofing itself as the go-to attractions e-commerce and guest experience technology provider is delivering,” said Peel Hunt said, responding to the update on the company’s two key customers.
Shore Capital, meanwhile, said market conditions remained in accesso’s favour “and we feel that there could be scope for further upgrades”.
“Overall. We see [the business] is well-positioned to capture a greater market share in an industry that could be larger post the pandemic given the increase in uptake of digital solutions throughout leisure, entertainment, and cultural markets,” Shore said in a note to clients.
Mid-afternoon, the shares, which have almost doubled in value in the past year, were trading sideways at 826p.
Peel Hunt reckons the stock is worth 1,300p. Shore told clients: “We continue to remain optimistic on accesso’s outlook and believe a fair value of 1,030p (24% upside) is achievable over the near future and reaffirm our ‘buy’ recommendation.”