Report
Nicolas Thorez

Assystem : Entre forte visibilité et valeur cachée : une equity story toujours séduisante

>Un titre toujours aussi Value, malgré de nombreux catalyseurs - Depuis l’annonce il y a 1 an de la relance du programme Nucléaire en France, la visibilité sur les perspectives d’Assystem n’a jamais été aussi forte. Pourtant, dans notre valorisation par SOTP, si on retire la valeur des participations d’Assystem dans Framatome (5%) et Expleo (38%), le cours actuel valorise le cœur de métier à <9.0x EBIT prospectif, un niveau attractif eu égard aux perspectives sur ce s...
Underlying
Assystem SA

Assystem SA is a France-based company that is principally engaged in engineering and innovation consultancy. The Company offers solutions within a number of sectors, such as Aerospace, Defence, Energy, Nuclear, Life Sciences, Infrastructure, Automotive and Transport. The Company develops the infrastructural engineering and externalized R&D services. It's activities include managing infrastructural investments, from conception to dismantling; aerospace mechanical engineering, providing technical services to aerospace, engine and automotive manufacturers and technology & product engineering, providing services in transport, defense, product hardware and software development. The Company is present Europe, North America and Asia. The main shareholder of the Company is HDL Developpement SAS. It operates through Onyx Promavi, Batir Group, Edison Technical Recruitment Ltd, Radicon Gulf Consult, Engineering Partner Automotive Nordic AB and The Biotech Quality Group, among others.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Nicolas Thorez

ResearchPool Subscriptions

Get the most out of your insights

Get in touch