(Boursier.com) — Despite the sudden loss of momentum of the CAC40 after the inflation data in the United States, Sopra Steria (+2.5% to 178.6 euros) remains driven by its solid annual publication as well as by several analyst notes. Bryan Garnier raised his target on the record from 208 to 243 euros while remaining ‘purchased’. The broker believes that the company’s guidance for 2023 is cautious, the credibility to reach 10% operating margin in 2024 is reinforced, while the acquisitions of CS and Tobania will strengthen the group’s positions in France and Belgium.
Oddo BHF upgraded the share from 214 to 236 euros (‘outperform’). This is a very good publication from Sopra Steria, explains the analyst. The only bad news comes from the difficulties encountered at SFT. The problem is not so much the short-term financial impact, which is quite negligible, but rather the impact this will have on the group’s ambitions for SBS in Germany. Following this publication, Oddo BHF is raising its organic growth forecasts for 2023 and 2024 to 4.7% and 4.8% respectively (vs. 3.1% and 4% previously) and taking into account the integration of CS Group and Tobania from March 2023. The stock remains unfairly undervalued despite strong operational performance, the broker concludes.
Invest Securities raises its target from 198 to 228 euros and remains on the ‘purchase’. His positive opinion adopted on the title since the arrival of C. Malagré at the beginning of 2022 is confirmed each time and this publication is no exception to the rule. The 2022 achievements are solid and above all the 2023 guidance is reassuring, with even the possibility that the company will do better due to a very cautious scenario adopted for the second half, says the broker. In addition, non-operating factors (corporate tax, provisions, Axway) and the integration of the acquisitions of CS Group and Tobiana have significant impacts, leading it to raise its expectations quite clearly. With an aberrant valuation with regard to the fundamentals, the broker remains clearly positive on the stock, convinced that the rerating initiated at the start of 2023 must be prolonged, even amplified.
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