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Alten: Société Générale upgrades to 'buy'.

(CercleFinance.com) - Societe Generale (SG) has upgraded its rating on the share of the technology consulting group Alten, due to its "attractive valuation and upcoming newsflow".
From their previous "hold" rating, SG analysts now recommend investors buy the stock, maintaining their 12-month target price at 81 euros.

Indeed, SG notes that the Alten stock has fallen by about 10% over the past six months, while the most optimistic margin estimates of the consensus have been reduced for 2017. SG also judges that the share was fairly valued when it exceeded 80 euros.

In short, the recent correction is considered "justified". "However," adds SG's report, “investors should not give way to an excess of pessimism. With the return of Alten's valuation to a more attractive level, we upgrade our rating to Buy (from Hold).”

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