ALTEN: Another outstanding quarter in Q3 | BUY Top Picks | EUR181 VS. EUR175 (+35%)
ALTEN - BUY Top Picks | EUR181 VS. EUR175 (+35%)Another outstanding quarter in Q3
We reiterate our Buy rating and raise our target price to EUR181
Turnaround remains swift and the bench of engineers has vanished
Two acquisitions announced in China and in India
Alten looks to have the means to largely exceed its 10% growth target
Alten is a holding company. Through its subsidiaries, Co. operates in three areas: Engineering and Technology Consulting (ETC), Telecoms Networks and Multimedia, and Information Systems (NTIS). Through the Engineering and Technology Consulting (ETC) segment, Co. studies and designs technology products for technical divisions in industry and telecoms. The Telecoms Networks and Multimedia segment focuses on Product design, Architecture, deployment, and operation of networks. Lastly, the IT systems segment comprises Applications and software development, and Infrastructure and Telecoms (Applications, systems and networks Corporate telecommunications).
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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