(News Bulletin 247) – Bank of America on Monday raised its recommendation on the Atos share from ‘neutral’ to ‘buy’ with a price target raised from 13.8 to 21 euros representing an upside potential of 50%.
If the intermediary recognizes that Atos is only at the very beginning of a restructuring course still considered very uncertain, he underlines that the measures already taken by the management team are beginning to bear fruit.
BofA cites the latest outlook unveiled by the technology group as proof of this, which it considers to be ‘less negative’ than those presented during the June 2022 investor day.
The analyst also notes that the stock market remains well below its highest for the year 2020 (79 euros), even if it has almost doubled between last September and today.
The professional now says he perceives an attractive risk/return profile on the stock, with an upside potential which he believes could reach nearly 100% if his project to monetize the cybersecurity subsidiary Evidian is successful.
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