Atos: Invest Securities maintains buy rating, but cuts TP
(CercleFinance.com) - While lowering its target price from 84 euros to 77 euros (current price about: 58 euros, +0.
2%), Invest Securities maintains a buy rating on the Atos share, due to its valuation, although sees no reason for the stock to rebound significantly in the near term.
The broker says that it is raising its applicable beta from 1.25 to 1.35 times for the share, due to the announcement of a hitch by its auditors on Thursday morning, which resulted in a share drop in the IT service group's share price (-12.4%).
Analysts say that while the consequences of this event are impossible to quantify at this stage, the situation adds to investors' distrust after a very tricky sequence for the group in recent months, adding the condemnation of Syntel and the proposed acquisition of DXC.
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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.
2%), Invest Securities maintains a buy rating on the Atos share, due to its valuation, although sees no reason for the stock to rebound significantly in the near term.
The broker says that it is raising its applicable beta from 1.25 to 1.35 times for the share, due to the announcement of a hitch by its auditors on Thursday morning, which resulted in a share drop in the IT service group's share price (-12.4%).
Analysts say that while the consequences of this event are impossible to quantify at this stage, the situation adds to investors' distrust after a very tricky sequence for the group in recent months, adding the condemnation of Syntel and the proposed acquisition of DXC.
Copyright (c) 2021 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.