Alten: Invest Securities 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 97 euros, up announced on Friday morning.
The broker emphasises that the acquisition of this company, which reports FY sales of 76 million euros, with a margin of over 10%, represents a first operation that is larger than the group's usual acquisitions.
The analyst says that Alten is seeking to increase the share of IT services in its mix because of the current difficulties in engineering, with the group having announced that it wants to acquire 1500 to 2200 engineers by the end of the financial year, which bodes well for other operations, the analyst said.
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