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Our call for action on ALTEN – The outsourced R&D group is suffering from a slowdown in several industries it operates in. On the stock market, its action reflects this, but also returns to a buy level.
Alten shares fell 20% in the first half of 2024. This is a fairly logical decline, given the slowdown in growth in the first quarter: only an organic increase of 0.8%, especially since the second quarter should not be any better.
Daniele Alibrandi and Rogerio Fujimori, who are following the Stifel Research file, expect growth to reach 1% in the second quarter, due to unfavorable calendar effects and slower growth, especially in the automotive and aerospace sectors, as well as stabilization of economic activity in other sectors. The outlook is mixed, based on recent statistics, especially the European manufacturing PMI, which remains below 50, indicating a decline in economic activity.
Alten discounts despite resilient economic model
However, analysts point out that if visibility remains reduced and the trend appears quite negative, then in a similar scenario, that of economic stagnation in Europe…
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