Altran: Portzamparc a buyer prior to interim results
(CercleFinance.com) - Ahead of Altran's interim results, which are due to be published on Thursday, broker Portzamparc has confirmed buy rating on the stock, mentioning "a return to rationality.
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Analysts maintain their target price of 12.12 euros.
The technology consulting group is still suffering from this summer's discovery of accounting fraud at Aricent, a major US acquisition for Altran.
Portzamparc's Parisian “smidcaps” analysts say that after reducing their assumptions for Aricent's growth and profitability, they still finds that the Altran share has significant upside potential and that they believe that the market's reaction integrates a worst-case scenario that is nowhere near realistic.
They add that the first conclusions of the internal audit initiated at Aricent, which are due when the group publishes its interim results, could have a strong impact on the share.
Copyright (c) 2018 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.
"
Analysts maintain their target price of 12.12 euros.
The technology consulting group is still suffering from this summer's discovery of accounting fraud at Aricent, a major US acquisition for Altran.
Portzamparc's Parisian “smidcaps” analysts say that after reducing their assumptions for Aricent's growth and profitability, they still finds that the Altran share has significant upside potential and that they believe that the market's reaction integrates a worst-case scenario that is nowhere near realistic.
They add that the first conclusions of the internal audit initiated at Aricent, which are due when the group publishes its interim results, could have a strong impact on the share.
Copyright (c) 2018 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.