ALTEN : Invest Securities slightly raises its target
January 26, 2024 at 05:53 am EST
Share
Invest Securities confirms its Buy rating on Alten shares, with a price target raised from €146 to €148.
Yesterday, Alten announced a 5.8% year-on-year increase in quarterly sales, a "reassuring" publication according to Invest, which has therefore maintained its expectations on the share unchanged.
We are positive about the message on 2024, confirming that organic growth will decelerate in Q1 and Q2, before accelerating in Q3 and especially Q4", the analyst points out.
Invest Securities points out that its new price target does not include value creation linked to add-on acquisitions, which are part of Alten's business model and could make a significant contribution to earnings in 2024-25 after a negligible impact in 2023.
Copyright (c) 2024 CercleFinance.com. All rights reserved. The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
Alten is European's No. 1 high-technology consulting and engineering group. The group's services are supplied to technical departments and IT system departments at large industrial, telecom, and utility companies. The activity is organized into 3 areas:
- technology engineering and consulting services: studies, design, and execution of research and development projects for new products/systems, consulting services, project management assistance, etc.;
- development of network architectures: design of terminals and network equipment, deployment and operation of networks;
- development of information systems: implementation or redesign of information systems and development of specific applications.
Net sales break down by market into automotive and rail (20%), trade/services/media/public sector (18.4%), aeronautics and space (13.6%), banking/finance/insurance (10.4%), energy (8.8%), life sciences (8.7%), telecoms (5.6%), defense/security/maritime (5.5%), industries (5.4%) and electronics (4.2%).
Net sales are distributed geographically as follows: France (31.1%), North America (14.8%), Germany (8.7%), Spain (8.6%), Asia/Pacific (8.4 %), the United Kingdom (7%), Italy (6.6%), Benelux (5.2%), Scandinavia (4.9%), Eastern Europe (2.3%), Switzerland (1.7%) and other (0.7%).
ALTEN 
