Vers une bonne surprise sur la marge le 9 mars? - ACHAT - Objectif 17€ (vs 16€)
A l’issue la conf call dédiée au CA T4 16, nous pensons qu’une bonne surprise sur la marge est possible lors de la publication des résultats 2016 le 9 mars. Le CA est certes en ligne avec les attentes, mais notre analyse est que le management privilégie actuellement l’amélioration de la marge à l’optimisation de la croissance organique, ce qui explique le différentiel de performance avec Alten. Une bonne surprise sur l’amélioration de la marge crédibiliserait la trajectoire annoncée dans le cadre du plan Ignition.2020 et serait le catalyseur d’un rerating du titre. Nous réitérons donc notre opinion ACHAT avec un objectif relevé à 17€ vs 16€ préc. Altran reste notre valeur préférée dans le secteur et est maintenue dans la Sélection Invest Securities.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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