Alten: Invest Securities still a buyer - raises target price
(CercleFinance.com) - Invest Securities reiterates its "buy" recommendation on the Alten share, having raised its corresponding target price from 85 euros to 88 euros, having adopted a new valuation methodology for the engineering and R&D consulting group.
Although the engineering sector is in turmoil, Alten is an agile leader, with no debt (net cash of 75 million euros at the end of 2019), which should benefit from the reduction in supplier panels at certain principals, the analyst points out.
It also believes that some of the measures in the recovery plan announced by the French government last week could benefit the company, particularly its industrial processes and manufacturing/engineering.
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