Atos: Invest Securities raises target price
(CercleFinance.com) - Invest Securities reiterates its "buy" rating on Atos shares, which remain in its best pick "IS selection", having increased its target price for them from 56 euros to 66 euros, based on a sum-of-the-parts methodology, which it says aims to better assess the fundamental value of the group's assets.
The broker said that it more than ever believes that the outcome of the crisis that the group is experiencing will result in its takeover, given the value of the group's different assets, which are very far from being limited to declining outsourcing activities.
The broker notes that the group announced quarterly revenues that are in line with expectations, with a slight sequential improvement in a context that remains very difficult for certain outsourcing activities, as well as the replacement of E. Girard by R. Belmer at the group's helm.
The market seems to think otherwise - at least this morning - the share is currently down almost 1% in a market this is up by about 1%.
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