Alten: Invest Securities raises target price

(CercleFinance.com) - Invest Securities maintains its Buy rating on Alten shares, with a price target raised from E148 to E160.


The analyst reports that while the mid-January publication of 2023 sales was reassuring regarding the company's 2024 growth trajectory, Friday's presentation of annual results did not provide any new information.

As a result, it will have to wait a few months to quantify its 2024 targets (satisfactory organic growth and improved EBITA margin), it says.

On the M&A front, 2024 should be richer than 2023 (the CEO is confident of acquisitions representing 2,000 engineers and E100m in full-year sales), even though competition from PE funds is fierce, the broker analyses.


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