Altran: Oddo recognises a differentiating model, but...

(CercleFinance.com) - Following a field trip in India, an analyst at Oddo BHF this morning maitains his "neutral" recommendation on the Altran Technologies share, recognising a "differentiating model", while regretting that this is not translating into results yet.


Altran's focus on setting up an industrialised offshore model, which is largely based on India, should theoretically enable it to outperform its peers in terms of both growth and profitability over the medium term. Nevertheless, in the near term the uncertainties related to the decline of telecom equipment manufacturers, offshore self-cannibalisation and the limited number of announcements of major outsourcing contracts lead the broker to believe that the benefits of this model could materialise slower than expected, it says.

Oddo BHF confirms its target price of 10 euros, which suggests no upside potential, corresponding to the share's current price.



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