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Atos: 'offers visibility' Oddo says

(CercleFinance.com) - Oddo says that we can expect growth of B&PS in Q4, enabling the group to achieve organic growth of about 2%.

Analysts believe that organic growth of about 2% in 2020 seems realistic, driven by the recovery of B&PS, while IDM is not very sensitive to macro conditions.

The broker says that guidelines for MOA and FCF seem credible in its opinion, thanks to Syntel's synergies and the recovery of IDM.

Atos offers visibility for a low valuation (2020 EV/EBIT of 7.2x). Oddo therefore confirms its buy rating on the share, along with a target price of 91 euros (27% upside potential).

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