Atos is an international information technology services company operating in 52 countries. Co.'s customers are sectors like Public Sector and Utilities, Telecoms and Media, Financial Services, Process Industries and Discrete Manufacturing and Consumer Products and Retail. Co. operates in seven geographical segments: Germany; France; Benelux and The Nordics; U.K. and Ireland; Atos Worldline; Central & Eastern Europe; North America; Iberia; and Other Countries. Co. delivers IT services through the following five segments: Managed Services, Systems Integration, Consulting, Worldline: ePayment Services, and Cloud & Enterprise Software.
  • TickerATO
  • ISINFR0000051732
  • ExchangeEuronext Paris
  • SectorSoftware & Computer Services
  • CountryFrance
Gregory Ramirez

ATOS | BUY - Top Picks | EUR91 vs. EUR92 Good job on cost savings, while free cash flow will return to normal

ATOS | BUY - Top Picks | EUR91 vs. EUR92 Good job on cost savings, while free cash flow will return to normal The Spring transformation plan has entered its step 2 We are not concerned by free cash flow, which will reverse in H2 Two acquisitions strengthen Atos in its strategic priorities New Fair Value of EUR91, we reiterate our Buy – Top Picks

Jérôme VINERIER

Short term view - ATOS : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €59.88. The background trend would be questioned should prices rise above €101.30.

Jérôme VINERIER

Analyse court terme - ATOS : Les prix baissent.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 59,88 €. La tendance de fond serait remise en cause en cas de franchissement de 101,30 €.

Jérôme VINERIER

Short term view - ATOS : The movement goes on.

The background trend is clearly bearish. The movement goes on. The next target is at €59.88, then €52.10. Passing €101.30 would question the continuation of the fall.

Jérôme VINERIER

Analyse court terme - ATOS : Le mouvement se poursuit.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 59,88 €, puis 52,10 €. Le franchissement de 101,30 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Analyse moyen terme - ATOS : La tendance est baissière.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 59,90 €, puis 47,90 €. Le franchissement de 109,00 € remettrait en cause la suite de la baisse.

Gregory Ramirez

ATOS: Final FY18 results in line with preliminary numbers, guidance confirmed | BUY | EUR127

ATOS - BUY | EUR127 (+55%) Final FY18 results in line with preliminary numbers, guidance confirmed FY18 revenues and non-IFRS operating margin are confirmed There was no increase of the sales of receivables in H2 2018 FY19 guidance and Advance 2021 ambitions are confirmed

Gregory Ramirez

ATOS | BUY - Top Picks | EUR91 vs. EUR92 Good job on cost savings, while free cash flow will return to normal

ATOS | BUY - Top Picks | EUR91 vs. EUR92 Good job on cost savings, while free cash flow will return to normal The Spring transformation plan has entered its step 2 We are not concerned by free cash flow, which will reverse in H2 Two acquisitions strengthen Atos in its strategic priorities New Fair Value of EUR91, we reiterate our Buy – Top Picks

Matthieu Lavillunière ...
  • Maxime Dubreil
  • Thibault Morel

INVEST SECURITIES - ATOS : Une robustesse bien identifiée par le marché - NEUTRE, OC 80€ (vs 77€)

Charles Lepetitpas ...
  • Nicolas David

Atos : An H1 2020 publication broadly in line with our expectations

>Q2 sales in line with organic growth slightly better than expected - Atos yesterday morning reported Q2 2020 sales of € 2,794m, broadly in line with expectations (ODDO BHF: € 2,813m; consensus: € 2,775m). Organic growth was -4.8%, a shade above our expectations (ODDO BHF: -5.0% organic; consensus: -5.5% organic), marking an acceleration vs Q1 2020 (-0.8% organic). This contraction is mainly due to the group’s cyclical activities (B&PS), which have reported a contrac...

Charles Lepetitpas ...
  • Nicolas David

Atos : Une publication S1 2020 globalement en ligne avec les attentes

>CA T2 en ligne avec une croissance org légèrement meilleure que prévu - Atos a publié hier matin un CA T2 de 2 794 M€, globalement en ligne avec les attentes (ODDO BHF: 2 813 M€ ; Css :2 775 M€). La croissance org. est ressortie à -4.8%, légèrement supérieure aux attentes (ODDO BHF: -5.0% org ; Css: -5.5% org), en ralentissement logique par rapport au T1 20 (-0.8% org). Ce recul est dû principalement aux activités cycliques du groupe (B&PS) qui ont publié une décroi...

Alexandre Iatrides ...
  • Charles Lepetitpas
  • Florent Laroche-Joubert
  • Jean-François Granjon
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Nicolas David
  • Sebastien Malafosse
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/08/2020

We are initiating coverage of Phoenix with a Buy recommendation and a target price of 775 pence. Phoenix Group is the UK’s leading life and pension consolidator and is poised to finalise the acquisition of its main competitor, ReAssure, in the coming weeks. It boasts rigorous management of its capital, with significant cash generation and an attractive shareholder return. Cf. company report published today. - ...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 30/10/2019 - Fiat Chrysler Automobiles (Achat) – Peugeot (Achat) - FR

Fiat Chrysler Automobiles (Achat) – Peugeot (Achat) : Nouvelles discussions sur une fusion des deux groupes Unicaja Banco : Emission d'une obligation Tier 2 10NC5 Santander (Achat) - 9M-19 : PNB de €37,0 mds (+2,8%) Deutsche Bank (Vente) - 9M-19 : Perte nette de €4,1mds (RN de €455m un an avant) Pirelli (Achat) - 9M-19 : EBITDA de €979m (+7,8%) Fresenius (Conserver) - 9M-19 : EBITDA de €4,5 mds (+2,7%) Atos  (Achat) : Finalise la cession de Worldline et émission convertible de €500m Stora Enso (Achat) - 9M-19 : EBIT de €841m (-20...

Alexandre Iatrides ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Emmanuel Matot
  • Jean Sassus
  • Jean Danjou
  • Laurence Hofmann
  • Martial Descoutures
  • Nicolas David
  • Olfa Taamallah
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/25/2020

...

Alexandre Iatrides ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Emmanuel Matot
  • Jean Sassus
  • Jean Danjou
  • Laurence Hofmann
  • Martial Descoutures
  • Nicolas David
  • Olfa Taamallah
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 25/06/2020

...

Bruno Cavalier ...
  • Charles Lepetitpas
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Martial Descoutures
  • Nicolas David
  • Sebastien Malafosse
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/15/2020

We have attempted to determine in the present note whether value performance is consistent. We therefore stratified the Stoxx 600 into valuation deciles (12-mth P/E and 12-mth P/B). We have learned several lessons from this such as "deep value" is not a viable strategy. The performances of the 1st decile (lowest P/E and P/B) are the worst. In contrast, an examination of risk-adjusted performance shows that the portfolio composed of stocks in the 3rd P/E decile has a Sharpe ratio of 0....

ATOS sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of ATOS (FR), a company active in the Computer Services industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date May 22, 2020, the closing price was EUR 64.88 and its potential was estimated at EUR 74.75.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Atos – AGM 26 June 2020

On October 31, 2019, Thierry Breton, appointed European Commissioner, resigned from his position as Chairman and Chief Executive Officer. Elie Girard, Deputy Chief Executive Officer since April 2019, succeeded him as Chief Executive Officer, while Bertrand Meunier succeeded him as Chairman. This separation of functions is welcome and we congratulate the company. The Chief Executive Officer's compensation policy for 2020 includes several changes: the decrease in fixed compensation is very positive, as it is now below the median. In addition, it has the effect of reducing the maximum total comp...

Jehanne Leroy

Atos - Assemblée Générale du 16 Juin 2020

Le 31 octobre 2019, Thierry Breton, nommé Commissaire Européen, a démissionné de ses fonctions de Président et Directeur général. Elie Girard, Directeur général Délégué depuis avril 2019 lui a succédé en tant que Directeur général, tandis que Bertrand Meunier lui a succédé en tant que Président. Cette séparation des fonctions est bienvenue et nous en félicitons la société. La politique de rémunération du Directeur général pour 2020 comprend plusieurs changements : la baisse de la rémunération fixe est très positive, puisqu’elle est désormais inférieure à la médiane. De plus, elle a pour effet...

Expert Corporate Governance Service (ECGS)

Atos, 30th April 2019

ADDENDUM (as of 4th April 2019): the company published an addendum this day that changes vesting conditions of options and performance shares. This changes our voting recommendation on item 22, but it does not change our voting recommendation on item 21 and 26. ITEM 5: the company proposes the payment of an exceptional dividend in kind of 2 Worldline Shares for 5 Atos shares. ECGS supports this proposal. ITEM 6: the company proposes a non-binding vote on its new strategic plan. It’s the only one in France to do so. We appreciate this initiative. ITEM 8: the mandate of Thierry Breton, chairman...

Jehanne Leroy

Atos 30 Avril 2019

ADDENDUM du 4 avril 2019 : la société a publié ce jour un addendum à sa brochure de convocation modifiant les conditions d’acquisition des options et actions de performance objets des résolutions 21 et 22. Ces changements modifient notre recommandation de vote sur la résolution 22 (Options), mais ne modifient pas nos recommandations de vote sur les résolutions 21 et 26. GouvernanceIl est proposé de renouveler le mandat de Thierry Breton, Président Directeur Général, comme administrateur. En termes de gouvernance, le bilan n’est pas positif puisque le taux d’indépendance du conseil selon Proxi...

Atos - Assemblée générale des actionnaires du 30 avril 2019

Proxinvest publiera une étude analysant les résolutions proposées lors de la tenue de l’assemblée générale des actionnaires. Vous pouvez l'acquérir dès à présent et elle vous sera adressée par ResearchPool une fois publiée.

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