Norma Group stays on course: Baader Bank reiterates "Add" rating

In their latest analysis, Baader Bank confirms the "Add" rating for Norma Group shares and maintains the price target of 19 euros. After evaluating the preliminary quarterly figures, it is evident that the automotive supplier has met industry expectations and its own forecasts with precision. The specialist in connection technology delivered solid figures in terms of sales and operating profit (adjusted EBIT), as noted by analyst Peter Rothenaicher in his report. The market assessment suggests a conservative forecast for the year 2024, which can be attributed to the company's resolution to avoid presenting disappointing results this time – a strategic move that reflects a measure of caution following several years of ambitions. Nevertheless, Baader Bank views the long-term prospects of Norma Group positively, despite the current lack of short-term catalysts for a rise in share price.