Alten: Berenberg reduces target price

(CercleFinance.com) - On Friday Berenberg reduced its target price for Alten shares from 175 euros to 168 euros, while maintaining its buy rating on the stock following the group's strong trading update published last week.


In its comments, the broker stresses that the engineering and technology services group has confirmed that it is well on its way to achieving organic growth of 12% to 15% in H2.

However, the analyst argues that the company's prospects beyond the current financial year are less clear, leading it to anticipate growth rates of 8% for 2023, followed by 7.5% in 2024 and 6.5% in 2025.

For the record, Alten shares closed up 2.7% at about 132 euros on Friday.


Copyright (c) 2022 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.