Alten: Invest Securities still a buyer, raising target

(CercleFinance.com) - Invest Securities reiterates its "buy" rating on the share of IT group Alten, having increased its target price from 83 euros to 85 euros, despite potential that has partly been realised, after the share's rally of +22% since the broker upgraded the share on 27 April.


In their comments, analysts consider that the pressure on Alten's clients has reduced somewhat, following the easing of lockdown measures and governmental support plans for the automotive and aviation sectors.

For the engineering and technology consulting group Invest Securities has therefore adopted a scenario of a reduced decline over the second half of 2020 (-12.3% on a comparable basis versus -15.3%), with a slightly higher EBITA margin (5.6% versus 4.5%).


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