Sopra Steria: Invest Securities reduces TP
(CercleFinance.com) - Invest Securities maintains its Buy rating on Invest Securities shares, with a target price lowered from E266 to E260.
The analyst believes that in a context of low visibility, where only short-term momentum counts, the presentation of the 2028 roadmap has taken a back seat, with investors focusing on the lack of visibility for 2025, even though it has reiterated its targets for 2024.
The analyst reports that from 2026 onwards, management has set a roadmap with no major surprises in terms of growth, profitability and FCF.
In order to take into account a more cautious scenario for 2025 (organic growth revised to +0.5% vs. +3.0% previously), we are reducing our 2025-26e EPS estimates by -3.4%/-2.1%, noting that we are not including any contribution from M&A at this stage, the broker 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 believes that in a context of low visibility, where only short-term momentum counts, the presentation of the 2028 roadmap has taken a back seat, with investors focusing on the lack of visibility for 2025, even though it has reiterated its targets for 2024.
The analyst reports that from 2026 onwards, management has set a roadmap with no major surprises in terms of growth, profitability and FCF.
In order to take into account a more cautious scenario for 2025 (organic growth revised to +0.5% vs. +3.0% previously), we are reducing our 2025-26e EPS estimates by -3.4%/-2.1%, noting that we are not including any contribution from M&A at this stage, the broker 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.