Invest Securities has reaffirmed its 'buy' rating and 248-euro price target on Capgemini, believing that the French IT services group's 2024 guidance has been bolstered by Accenture's publication on Thursday.

"After performing rather well at the start of the year, the stock has underperformed over the last three months (-14 points), impacted by fears of a delayed market recovery following comments from certain US players", the analyst points out.

In his opinion, Accenture's publication 'contradicts these concerns, with the US giant's leading indicators pointing to a low point reached at the beginning of 2024, and a recovery that should accelerate over the coming months'.

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