SOPRA STERIA GROUP - BUY | EUR235 VS. EUR231 (+52%) Preliminary FY21 results exceeding expectations and CEO change
SOPRA STERIA GROUP - BUY | EUR235 VS. EUR231 (+52%)Preliminary FY21 results exceeding expectations and CEO change
We reiterate our Buy rating and raise our TP to EUR235 from EUR231
Preliminary results exceed expectations, with an 8.1% operating margin
Incumbent COO Cyril Malargé succeeds Vincent Paris as CEO
Our growth and operating margin scenario remains basically unchanged
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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