Oddo BHF maintains its 'underperform' rating on Atos shares, with an unchanged target price of 4.7 euros.

According to several sources, discussions are underway between Airbus and Atos regarding the possible sale of BDS (a structure with sales of €1.5 billion, which groups together Atos' cyber-security, homeland security, supercomputer and high-performance server sales activities), reports Oddo BHF.

Against this backdrop, the share price climbed some 21% last Friday. The trend is quite different today, with the share price dropping 12%, the biggest decline on the SBF120.

The broker also urges caution with regard to the Airbus rumor: despite the recent changes to the board and the entry of onepoint into the capital, "it remains clear that the widely favored scenario [is] that of a sale of TFCo and a capital increase that would largely preserve the integrity of the group's perimeter".

According to Oddo BHF, 'the risk/reward on the stock still looks very unfavorable following Friday's sharp rise'.


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