Alten: it's time to take profits, Berenberg says
(CercleFinance.com) - While the share of R&D outsourcing group Alten has risen by almost 50% since the end of 2018, Berenberg says that investors should now take their profits.
As such, the broker has downgraded its previous "buy" rating to "hold," even though it has nudged up its target price from 109 euros to 116 euros.
Admittedly, the group has the highest organic growth (12.5% in H1) in its sector amongst shares tracked by Berenberg analysts. This is one of the points that Berenberg particularly likes about Alten - in addition to its quality of execution, enhanced by small acquisitions (five since the beginning of the year). However, analysts say that all of these factors now seem to be priced in.
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