Bechtle: IT Champion back on growth track thanks to government contracts and AI strategy

Bureaucracy has long been an obstacle. In early March, we identified Bechtle as one of the potentially biggest beneficiaries of the approved special fund for infrastructure. Since then, the stock has largely moved sideways as the implementation of government projects slowly progressed, as expected. However, strong Q3 results and a won tender have now driven the share price to its highest level since July 2024, with the stock even gaining 28% since mid-November. As a result, Bechtle has provided its shareholders with a return of 42% over the...