Oddo BHF reaffirms its 'outperform' rating on Sopra Steria, while adjusting its target price from €271 to €269, in the wake of slightly lower organic growth and EPS forecasts for 2024 and 2025.

The research house nevertheless sees Sopra Steria as 'a player benefiting from interesting specific levers enabling it to outperform its direct peers, both in terms of growth and margins'.

In addition, it points to historically low valuation multiples which 'certainly offer an attractive entry point from a medium-term perspective, bearing in mind that the 2024 targets still seem attainable without an even more severe deterioration in the market'.

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