Added to YB: 2026-10-15
Pitch date: 2026-10-12
NRO.PA [bullish]
Neurones S.A.
-0.54%
current return
Author Info
Spread Hunters is an investor community focused on hunting spreads: opportunities where there is a mismatch between market price and the value we see in special situations, merger arbitrage, odd‑lots and other corporate events. Sign up for the newsletter.
Company Info
Neurones S.A. provides infrastructure, application, and consulting services in France and internationally.
Market Cap
EUR 873.8M
Pitch Price
EUR 36.90
Price Target
56.50 (+54%)
Dividend
3.82%
EV/EBITDA
6.65
P/E
16.07
EV/Sales
0.76
Sector
IT Services
Category
growth
Monthly SpreadHunters Monitoring #9 - Neurones S.A.
NRO.PA (hold): Neurones’ organic growth accelerated from 5.6% in Q1 to 8.0% in Q2, while H1 operating profit rose 20% on 7.2% revenue growth, confirming operating leverage. Guidance remains above €900M of revenue with an approximately 9% margin, supporting the 6-10% growth thesis and potential rerating toward 16-20x P/E; the thesis cites 8x free cash flow, with latest net cash of €292M; the base case implies 53% upside over two years.
Read full article (2 min)