Stifel reaffirms its 'buy' recommendation on Assystem and raises its target price from 50 to 55 euros, following the engineering consultancy's announcement of first-quarter 2023 sales 9% ahead of expectations.

'Also, taking this into account, we are slightly raising our guidance for 2023. In addition, we are increasing EPS by 6.6% to also take into account a higher contribution from the results of Expleo, which is 38% owned by Assystem', says the broker.

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