Atos: AlphaValue still a buyer, but cuts TP

(CercleFinance.com) - On Friday AlphaValue reduced its target price for the IT services company Atos' shares from 40.
3 euros to 29.4 euros, while maintaining its buy rating on the stock.

In its afternoon comments, the independent broker explains that it has reduced its target price for the share due to the downward revision of its earnings estimates for 2022-2024.

AlphaValue also points to the stock's underperformance relative to the rest of the technology sector since the beginning of the year (-64% compared to -21% for the sector), which it attributes to the difficulties in executing the transformation plan and to major governance problems.

However, analysts also note that rumours of a takeover bid for the company's big data and IT security activities are resurfacing and points out that Thales has the support of the French government to build a cybersecurity champion.


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