(Boursier.com) — Aubay rose 2.7% to 38.1 euros this Friday and thus ended five consecutive sessions in the red, including a fall of 6% on Thursday. Yesterday, investors sanctioned the deterioration of the interim accounts and the slight warning on the 2023 results. The IT services company, cautiously, expects a landing towards the bottom of the range of its annual objectives, which are for reminder of organic growth of between +5% and +7%, i.e. revenues of between 540 ME and 550 ME, and an operating margin of activity of between 9.5% and 10.5%…
The decline in the stock seems severe given the quality of the file and its ability to bounce back, estimates TP ICAP Midcap. Despite the adjustment of annual objectives at the lower end of the range, the group’s performance remains very solid in a less favorable market context after an exceptionally dynamic year. The group anticipates a landing of net cash close to 100 ME, which it still hopes to mobilize through acquisitions. The market slowdown makes management more confident about its chances of moving forward with a merger. Many files are studied but the company maintains great selectivity in its research. While waiting for the rare pearl, the group has started to buy back shares, underlines the broker, to ‘purchase’ on the file.
©2023 Boursier.com