(News Bulletin 247) – Stifel maintains its Sell recommendation on Atos stock with a price target of 10.50E.
While encouraged by management’s increased confidence in the medium-term outlook for the TFCo division, Stifel believes a lot will hinge on execution over the next two years.
‘TFCo is expected to continue to be pressured by structural headwinds and aggressive restructuring planned by management through the end of FY24,’ the analyst said.
This, ‘coupled with Evidian’s anemic growth’, should result in ‘flat growth for the group over the next three years’.
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