Assystem: Stifel lowers target price

(CercleFinance.com) - Stifel maintains its buy rating on Assystem shares, with a target price lowered from E65 to E60.


President Macron's announcement of the dissolution of the French National Assembly and the publication of the political project of the French left-wing coalition have erased much of the share price appreciation since its Q1 24 trading update, the broker says.

Stifel reports that polls currently indicate that a strong majority in favor of nuclear power could emerge.

We believe that the end of uncertainty surrounding the outcome of the elections could be an initial positive catalyst. In addition, the next key earnings dates should demonstrate a recovery in operating margin, leading to sustained EBIT growth in H1 and over FY 2024, the analyst concludes.


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