Visiativ gains more than 30% in Paris, as Invest Securities announces this morning that it is maintaining its 'neutral' rating on the stock, with a target price raised from €26 to €37.

'We are surprised by Groupe SNEF's takeover bid, being convinced that the current management wanted to keep the reins for a long time to come, particularly after the presentation of the Shift5 plan which set out the roadmap for the period 2023-28', the analyst stresses.

The management, perhaps disappointed with the valuation on the stock market, has therefore decided to take the plunge", says the broker.

Invest Securities points out that it remains difficult to give an opinion on the proposed price (37 euros), as "the group's valuation is highly sensitive to the long-term EBITDA margin, which has been a source of concern for Visiativ since the IPO, and the reason for the company's recent stock market performance".

Copyright (c) 2024 CercleFinance.com. All rights reserved.