Atos: Invest Securities puts rating under review
(CercleFinance.com) - Invest Securities believes that Atos and DXC's confirmation of preliminary discussions with a view to Atos' acquisition of the latter comes as a surprise, given the strategy communicated by Atos just 6 months ago and the priority given to accelerating organic growth.
Indeed, DXC, which is focused on outsourcing, is a company in difficulty, whose acquisition could be highly accretive, although which could lead to a derating of the share due to a weakening of its growth potential, the analyst says.
Pending a communication from the company on whether or not this transaction will be completed, the broker is reviewing the stock's buy rating. Its former target price of 90 euros is also under review.
After a rough ride yesterday, the share price is currently up about 2.5% at about 67 euros.
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