Sopra Steria: Invest Securities raises TP

(CercleFinance.com) - Invest Securities reiterates its 'buy' rating on Sopra Steria shares, even though the next step in the valuation process should await the improvement in momentum expected in H2 2024, with target price raised from E260 to E268.


While acknowledging that Sopra Steria is suffering from unfavourable momentum in H1, the analyst stresses that the IT services group's transformation is continuing, with the sale of 80% of SBS to Axway as the next step.

With 2024 targets reiterated and Q1 in line with expectations, Invest Securities leaves its 2024-26 expectations unchanged, although raises its TP for the stock to take the easing of market conditions into account.


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