(CercleFinance.com) – Invest Securities maintains its buy rating on Alten shares, with a price target raised from 148 to 160 euros.
The analyst reports that if the mid-January publication of 2023 turnover proved reassuring regarding the 2024 growth trajectory, the presentation of annual results on Friday did not provide any new elements.
Thus, we will have to wait a few months to quantify the 2024 objectives (‘satisfactory’ organic growth and improvement in the EBITA margin), estimates the research office.
‘On the M&A side, 2024 should be richer than 2023 (the CEO is confident for acquisitions representing 2,000 engineers and 100 million turnover in a full year), even if competition from PE funds is fierce’, analyzes the broker.
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