ESI Group: Invest Securities adjusts its advice and its target

( – Invest Securities raises its opinion on the ESI Group stock from ‘sell’ to ‘neutral’, while the price target is also revised upwards, from 60 to 72 euros.

The analyst indicates that the publication of the 2022 results proved to be ‘reassuring’, in particular the message on the guidance for 2023 and Q1 23.

Consequently, Invest Securities estimates that the promised acceleration in growth should materialize in 2023, even if it turns out to be slower than initially expected (see one-year shift in MT objectives last September) and that it will apply to a significantly reduced scope (transfer of CFDs, cessation of activities in Russia, etc.).

The broker indicates that its expectations are ‘in line’ with the objectives updated in September. On the other hand, he specifies that ‘the current valuation is too much in advance of phase compared to the achievements’.

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