Stratégiquement pertinent mais long à réaliser - ACHAT - Objectif 18€
L’acquisition d’Aricent a selon nous beaucoup de sens sur le plan stratégique. Elle renforce Altran sur les axes essentiels de sa stratégie Ignition.2020 et crée un leader mondial, n°1 à la fois en Europe et aux Etats-Unis. Retraités du business spécifique des software deals, les métriques de l’opération (rentabilité, multiples de transaction) sont beaucoup plus pertinents et font apparaître une marge qui nous paraît soutenable à MT/LT. Nous l’estimons donc créatrice de valeur. Nous restons donc à l’ACHAT avec un objectif inchangé à 18€, même si nous avons conscience que le titre pourrait manquer de catalyseurs à CT au regard des incertitudes (termes de l’AK, délai de finalisation).Altran Technologies is a global player in the advanced engineering and innovation consultancy market, operating in more than 20 countries, particularly in Europe, Asia and North America. Co. advises and accompanies clients in creating and developing new products and services, intervening during the strategic planning stages of new technologies and offering products support and services throughout all developmental phases. Co. offers its consulting services as technical backing, project support and end-to-end services, providing deliveries of customized products. Co. operates in two segments: Innovation and Advanced Engineering Consulting and Organization and Information Systems Consulting.
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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