Stifel reaffirms its 'buy' recommendation and its price target of 190 euros on SES-imagotag, following the publication of first-half 2023 results which 'reflect a very strong operating performance'.

The broker points out that the specialist in electronic shelf labelling was able to significantly increase its gross margin. This exceeded Stifel's expectations, enabling it to raise its adjusted EPS estimate for 2023 by 10%.

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