Alten: Invest Securities downgrades stock
(CercleFinance.com) - Invest Securities has downgraded its rating on Alten shares from "buy" to "neutral", having reduced its target price from 167 euros to 136 euros, considering that the risk/reward ratio on the engineering and technology consulting group's stock is unfavourable in the near term.
The invasion of Ukraine has upset the situation, even though the group is virtually absent from Russia and Ukraine, with results potentially more resilient in the current situation than during the health crisis, the analyst said.
Nevertheless, in current market conditions, combining tension on the risk premium and a new upward trend in interest rates, the risk/reward does not seem very favourable, given the stock's sound resistance over the past month and its high valuation, it continues.
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