CompuGroup falls as Stifel cuts it to 'hold' on low visibility for recovery
** Shares in German medical software company CompuGroup COP1n.DE fall 2.2% after Stifel cuts it to "hold" from "buy" citing recent operating struggles and limited visibility for recovery
** This year's development was characterised by weakness in the sale of software modules and sluggish software business, the broker says
** "Q3 results did not provide any indication of a trend reversal," it adds
** Order entry developed positively in the last two years, but implementation is progressing only hesitantly, with low visibility of two large digitalisation projects in Germany and France, Stifel says
** A potential upside could come from improving operational performance, or a potential takeover offer with a similar multiple to the acquisition of peer Nexus NXUG.DE, it says
** Out of 12 analysts covering the company, seven rate it "strong buy" or "buy" and five "hold" - LSEG
Reporting by Isabel Demetz
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