(CercleFinance.com) – Visiativ gains more than 30% in Paris, while Invest Securities announced this morning that it is maintaining its ‘neutral’ rating on the stock with a price target raised from 26 to 37 euros.
‘We are surprised by the takeover offer from Groupe SNEF, being convinced that the current management wanted to keep the reins for a long time, particularly after the presentation of the Shift5 plan which set the roadmap for the period 2023-28’, underlines the ‘analyst.
‘The managers, perhaps disappointed with the valuation on the stock market, have therefore decided to lean on it,’ estimates the broker.
Invest Securities indicates that it remains difficult to comment on the proposed price (37 euros) because ‘the valuation of the group is highly sensitive to the EBITDA margin in the long term, a subject of tension on Visiativ since the IPO and reason for recent stock market performance’.
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