Alten: Stifel reduces target price
(CercleFinance.com) - Stifel maintains its Buy rating on Alten shares, despite the absence of positive catalysts, although reduces its target price for them from E155 to E145.
The analyst says he has updated his model ahead of the publication of Q2 2024 sales scheduled for 25 July.
The broker anticipates sales of E1,050m, with organic growth of just +1%, due to unfavourable calendar effects and the slowdown in the automotive and aerospace sectors.
We are lowering our sales forecast for fiscal 2024 in anticipation of increased caution in H2, which will result in lower operating leverage on EPS, Stifel comments, which believes that Alten's earnings will continue to grow in 2024, albeit modestly.
The current share price reflects excessive fears about short-term earnings, it concludes.
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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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
The analyst says he has updated his model ahead of the publication of Q2 2024 sales scheduled for 25 July.
The broker anticipates sales of E1,050m, with organic growth of just +1%, due to unfavourable calendar effects and the slowdown in the automotive and aerospace sectors.
We are lowering our sales forecast for fiscal 2024 in anticipation of increased caution in H2, which will result in lower operating leverage on EPS, Stifel comments, which believes that Alten's earnings will continue to grow in 2024, albeit modestly.
The current share price reflects excessive fears about short-term earnings, it concludes.
Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.