(News Bulletin 247) – Invest Securities reiterates its ‘buy’ recommendation and its target price of 228 euros on Sopra Steria, the day after the announcement by the IT services company of an agreement to acquire Ordina.
While it recognizes that the timing of the operation ‘is not ideal’, the design office believes that ‘the opportunity could not be refused’ and that the takeover of Ordina, ‘with very close DNA that of Sopra’, is fully in line with the strategy pursued by the new CEO.
‘Sopra is building a strong position in Benelux and increasing its exposure to the public sector, without hampering its growth and the improvement of its profitability and with a non-negligible accretive impact’, underlines the analyst.
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