Infomedia continues to engage with both Solera Holdings and TA Consortium to progress towards binding offers, with UBS noting the company reconfirmed non-binding bids of $1.70 per share from each.
The company has confirmed Battery Ventures elected not to proceed with its $1.75 per share bid. The broker continues to see Infomedia’s medium-term outlook as positive and expects it to continue from strong top line growth.
The Buy rating and target price of $2.15 are retained.
Sector: Software & Services.
Target price is $2.15.Current Price is $1.59. Difference: $0.56 – (brackets indicate current price is over target). If IFM meets the UBS target it will return approximately 26% (excluding dividends, fees and charges – negative figures indicate an expected loss).
