Invest Securities has reiterated its 'buy' rating on Sopra Steria, with an adjusted price target of €222 to €228, a new target with a potential upside of +13%, following the group's first-quarter trading update.

'Like other IT services players, the start of 2023 has been solid, supporting cautious 2023 guidance that is likely to be raised once management has more visibility over the second half of the year', says the analyst.

The research firm adds that the company's 'balanced profile (defensive business mix, reasonable valuation, new management ambitions and accretive impact of acquisitions)' is 'still attractive in the current context'.

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