Sopra Steria: Invest Securities drops 'buy' rating
(CercleFinance.com) - Invest Securities has downgraded its rating on the Sopra Steria stock from "buy" to "neutral" and has cut its target price from 185 euros to 175 euros, expecting that H1 will be less upbeat for the IT services group.
The broker believes that this period may be disappointing for the group, due to calendar factors and investments in the UK. Although the second half should be better, analysts have still cut their 2018-20 EPS estimates by -3.0%/-0.6%/-1.2% respectively.
Although we maintain a positive view over in the medium and long term, the less favourable momentum in the near term, combined with the stock's recent outperformance has led us to (temporarily) downgrade our rating on the stock, the analyst continues.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker believes that this period may be disappointing for the group, due to calendar factors and investments in the UK. Although the second half should be better, analysts have still cut their 2018-20 EPS estimates by -3.0%/-0.6%/-1.2% respectively.
Although we maintain a positive view over in the medium and long term, the less favourable momentum in the near term, combined with the stock's recent outperformance has led us to (temporarily) downgrade our rating on the stock, the analyst continues.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.