Atos: BofA upgrades stock
(CercleFinance.com) - On Monday Bank of America upgraded its rating on Atos shares from "neutral" to "buy", with a target price raised from 13.
8 euros to 21 euros, which represents 50% upside potential.
While the broker acknowledges that Atos is only at the very beginning of a restructuring process that is still considered highly uncertain, it stresses that the measures already taken by the management team are beginning to bear fruit.
This is evidenced by the latest outlook from the technology group, which BofA says is "less negative" than the outlook presented at its June 2022 CMD.
The analyst also notes that the share price remains well below its 2020 highs (79 euros), even though it has almost doubled between last September and today.
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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.
8 euros to 21 euros, which represents 50% upside potential.
While the broker acknowledges that Atos is only at the very beginning of a restructuring process that is still considered highly uncertain, it stresses that the measures already taken by the management team are beginning to bear fruit.
This is evidenced by the latest outlook from the technology group, which BofA says is "less negative" than the outlook presented at its June 2022 CMD.
The analyst also notes that the share price remains well below its 2020 highs (79 euros), even though it has almost doubled between last September and today.
Copyright (c) 2023 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.