Altran: Portzamparc says 'hold' despite takeover bid

(CercleFinance.com) - Portzamparc maintains a hold rating on the Altran share, despite the AMF greenlighting Capgemini's takeover bid, which starts today.


The broker has a target price of 15.1 euros for the share (the share price is currently flat at about 14.3 euros).

According to analysts specialising in "smidcaps" in Paris, the price offered does not value the group (Altran) at its full value, without even counting the potential synergies, especially since the share was upbeat before the bid was launched, seeming ready to benefit from a hike in the consensus. Finally, Capgemini has the financial means to increase its offer, Portzamparc concludes.


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