(CercleFinance.com) – Berenberg lowered its price target on Alten on Friday, bringing it down from 175 to 168 euros, while maintaining its buy advice on the stock following the solid point of activity published this week.
In its note, the financial intermediary points out that the engineering and technological services group has confirmed that it is on track to achieve organic growth of 12% to 15% in the second half.
But the analyst argues that the company’s prospects beyond the current fiscal year are less clear, leading him to anticipate growth rates of 8% for 2023, then 7.5% in 2024 and 6.5 %e, 2025.
‘Overall, we believe that our forecasts for short and medium-term results are rather cautious, which leaves room for good surprises from management,’ he said in his study.
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