Alten: a best pick for Invest Securities
(CercleFinance.com) - Invest Securities has put the Alten share in its "Invest Securities Selection", while confirming its "buy" rating on the stock and raising its corresponding target price from 110 euros to 128 euros, highlighting a spectacular change in its business momentum.
The broker points to Q1 sales that exceeded its estimate by 7%, representing a sharp recovery, with an improvement in the share's momentum, which is being seen in all the geographic areas.
Over the next few months, Alten will benefit from the momentum of the recovery, which could be supplemented by a normalisation of valuation and the group's policy of value-creating external growth, which would take the stock to new highs, the analyst adds.
The Alten share is a big winner on Tuesday morning - steaming ahead over 5% in the first hour of trading.
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