SOPRA STERIA GROUP - BUY | EUR231 (+36%) Improved momentum in France and wage inflation under control so far
SOPRA STERIA GROUP - BUY | EUR231 (+36%)Improved momentum in France and wage inflation under control so far
We reiterate our Buy rating
Revenue growth momentum has clearly improved in France
Wage inflation under control and acceleration in net staff hiring
The acquisition of Eggs Design strengthens the consulting offering
We are confident the group can deliver FY21 guidance
Sopra Steria Group is a global player in IT services, with operations in consulting, software development, and integration. In addition to France, Co. operates in the United Kingdom, Spain, Italy, Switzerland, Germany, and Belgium, assisting its clients in managing the transformation of their businesses and information systems. Co. divides its operation into three categories: Consulting, Systems and Solutions Integration, and Software Development; which it spreads among eight major verticals: Financial Services, Insurance and Social Welfare, Public Sector, Telecom Operators, Aerospace and Defense, Energy, Transport and Courier Services, and Retail.
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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