Invest Securities reiterates its 'buy' rating on Sopra Steria, with a price target raised from 198 to 228 euros, as it considers the valuation to be 'out of line with the fundamentals' and is 'convinced that the rerating that began in early 2023 should be extended, if not amplified'.

The analyst points out that "2022 achievements are solid and, above all, 2023 guidance is reassuring, with even the possibility of the company doing better due to the very cautious scenario adopted for the second half of the year".

In addition, non-operating factors (IS, provisions, Axway) and the integration of the CS Group and Tobiana acquisitions have had a significant impact, which leads us to raise our expectations quite significantly", he continues.

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