Alten: Invest Securities cuts TP
(CercleFinance.com) - While maintaining its 'buy' recommendation on Alten shares, Invest Securities has lowered its target price for them from E148 to E142 with the increase in the weighted average cost of capital (+22bp to 8.
06%).
The analyst sees a limited accretive impact of the integration of WorldGrid on 2025-26 EPS (+1%/+1.5%) based on a cautious assumption of the acquired entity's profitability, but considers the strategic rationale strong in a long-term perspective.
The revaluation will have to wait for an improvement in organic growth from the second half of 2025 onwards, it acknowledges, but points to a very low valuation, solid fundamentals compared with its competitors, and speculative interest.
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.
06%).
The analyst sees a limited accretive impact of the integration of WorldGrid on 2025-26 EPS (+1%/+1.5%) based on a cautious assumption of the acquired entity's profitability, but considers the strategic rationale strong in a long-term perspective.
The revaluation will have to wait for an improvement in organic growth from the second half of 2025 onwards, it acknowledges, but points to a very low valuation, solid fundamentals compared with its competitors, and speculative interest.
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.