Alten: Invest Securities reduces its target price
(CercleFinance.com) - Invest Securities confirms its Buy rating on Alten shares, with a target price reduced from E152 to E148 (cp: E81, -8.
3%).
While Q3 is in line with our expectations, late contract cancellations have prompted management to revise its 2024 targets and to adopt a very cautious stance on 2025, the analyst says, who highlights the "very complicated" situation in the automotive equipment sector.
While we are well aware that the company's message is inaudible at present, with momentum deteriorating until H1 25, Alten's management has often found it difficult to perceive the changes. On the other hand, it has always been able to adapt the company to market trends, notably through the use of nearshore operations, the broker adds.
Against this backdrop, and in view of a depressed valuation, Invest Securities points to the potential speculative interest that could emerge in the event of lasting stock market disaffection.
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.
3%).
While Q3 is in line with our expectations, late contract cancellations have prompted management to revise its 2024 targets and to adopt a very cautious stance on 2025, the analyst says, who highlights the "very complicated" situation in the automotive equipment sector.
While we are well aware that the company's message is inaudible at present, with momentum deteriorating until H1 25, Alten's management has often found it difficult to perceive the changes. On the other hand, it has always been able to adapt the company to market trends, notably through the use of nearshore operations, the broker adds.
Against this backdrop, and in view of a depressed valuation, Invest Securities points to the potential speculative interest that could emerge in the event of lasting stock market disaffection.
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.