Assystem: Invest Securities lowers TP
(CercleFinance.com) - While maintaining its 'neutral' opinion on Assystem shares, Invest Securities has lowered its target price for them from E38 to E37, to take account of a valuation of Expleo reduced to its lowest level (E171m, or E10.
8 per share).
The broker is raising its 2025-26 EPS estimate by +5.6%/+4.5% to incorporate the accretive impact of share buybacks and the Mactech acquisition, and considers the revival of the nuclear cycle to be a promising medium- to long-term theme.
Momentum is weak in the short term, and risk/reward not very favorable. The only catalyst in 2025 could come from Expleo, but on this point, we can't imagine how the timing of the sale and/or the price could surprise positively, it warns.
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