Sopra Steria: Invest Securities reduces TP
(CercleFinance.com) - Invest Securities reiterates its 'buy' rating on Sopra Steria shares, even though a return to growth is postponed until 2025, while lowering its target price for them from E268 to E262 in the wake of a revision of its estimates (-3% in EPS).
On the publication of preliminary H1 results, management warned of its 2024 organic growth target, while maintaining its margin target (modulo the positive impact of the SBS disposal)", notes the analyst.
He also points out that it is above all the absence of a rebound in organic growth in H2 that explains this warning, in connection with the context in France, Airbus' difficulties and the postponement of a major contract in the UK.
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