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Altran: after Aricent, SG remains a buyer; targets 22 euros

(CercleFinance.com) - Société Générale (SG) has confirmed its buy rating advice on Altran Technologies shares after a thorough analysis of Aricent's fundamentals, an American company on which the French technology consulting group wants to launch a takeover bid.

This has led to caution in the market. SG maintains its 12-month price target of 22 euros for the share.

SG is not worried about Aricent's strong exposure (around 45% of its annual revenues) to telecoms, as it is a different business from what it is in Europe, especially as the future 5G mobile phone standard has opened up significant growth prospects.

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