De bon augure avant les résultats 2016 - ACHAT - 75€ (vs 73€)
Le CA T4 est une nouvelle fois supérieur aux attentes, avec une croissance lfl de +6,4% vs +4,7% att. La tendance est à l’accélération progressive en France en croissance économique (retraité de l’effet jours ouvrés, négatif au T4) à +3,6% au T4 vs +3,3% au T3 et +2,3% au S1. A l’international, la bonne tendance d’ensemble (+10,8% lfl) masque des pays en accélération, tandis que l’Italie (4,2% du CA) ralentit brutalement du fait d’effets ponctuels. Nos estimations de croissance pour 2017 sont inchangées. Nous attendons les résultats 2016 le 22 février pour les ajuster. Nous relevons notre objectif de cours à 75€ vs 73€ précédemment du fait de la mise à jour des données de marché et restons à l’ACHAT. Nous continuons de penser que le marché de l’ICT sera favorable aux leaders (Altran et Alten) en 2017.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 2006, Invest Securities has become one of the leading players in investment services for funds and managers, to whom we offer a global and personalised service. Our track record differentiates us and proves our leadership in numerous promising sectors like property and growth companies.
Consisting of 13 different profiles (pharmacist, engineer, financier, etc), the DNA of our financial analysis office is value added and sector expertise. Through daily monitoring and detailed analyses of companies and sectors, we seek to provide a differentiating vision of our 120 stocks followed. Our ideas are circulated every day to nearly 1,000 professionals.
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