I’m rewriting this message since it was deleted. Aallon Group’s share price is about €9 and Inderes’ target price is €10.5 per share, yet the recommendation is ‘reduce’. I don’t understand the logic. In comparison, Talenom’s recommendation is ‘add’.
One company has front-loaded all possible revenue recognition and is over-leveraged. It’s even paying dividends with debt. The other uses traditional revenue recognition and has a solid balance sheet. The dividend could be higher, though. If the sector is of interest for investment, Aallon is a significantly better company without the hype.