CAPGEMINI : Invest Securities remains Buy, lowers its target
If the Group returns to organic growth in line with its peers, the analyst finds the presentation reassuring regarding margins, "which management now sees at the top end of the range for 2023 (i.e. 13.2%), improving in 2024 and still at 14% in 2025".
While management has not ventured to date the quarter of inflection of organic growth in 2024, the message is also reassuring, particularly on the potential of AI on 2024-25 sales', it continues, adjusting its 2023-25 BNA only at the margin.
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