Report
Gregory Ramirez

ALTEN - BUY Top Picks | EUR185 VS. EUR181 (+32%) Still exceeding expectations in a booming market

ALTEN - BUY Top Picks | EUR185 VS. EUR181 (+32%)
Still exceeding expectations in a booming market

We reiterate our Buy rating and raise our target price to EUR185
Q4 2021 sales were 5% above of our forecasts
One acquisition was announced in Spain
Growth will remain strong in 2022
Underlying
Alten SA

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).

Provider
Bryan Garnier
Bryan Garnier

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.

Analysts
Gregory Ramirez

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