NCB Stockbrokers is highlighting the Horizon information technology group as one of the highest quality stocks in the sector and one which is trading at relatively cheap levels compared with its peers.

The brokers suggest the shares have the potential to achieve gains of around 29 per cent to €9.3 million (£7.32 million) in the short term. NCB also believes a disposal of its information technology distribution business could accelerate a re-rating of the stock.

The acquisition of Commerce NTI and Client Solutions is seen as providing a good strategic fit for Horizon. Horizon is profitable and has a proven track record in delivering strong growth, and is being recommended as a buy for investors by NCB.