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Altran: Invest Securities still a buyer after Aricent

(CercleFinance.com) - Invest Securities maintains its "buy" recommendation on the Altran stock, along with its target price of 18 euros, after its contact with the group, which enabled it to better appreciate the Aricent business, which is expected to be acquired in the first quarter of 2018.

The broker's analysts note execution risks that should not be ignored, pointing out that the deal will increase the group's exposure to the telecoms sector, whose dynamics will mainly depend on the investment cycle in 5G.

Added to this are integration-related risks, which first consist of Aricent's absorption of Altran's acquisitions in the United States, followed by the creation of a common model from 2020, the analyst continues.

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