Invest Securities maintains its 'neutral' rating on Visiativ shares, with a price target raised from 24 to 26 euros to take account of the new acquisition announced and a 2023 performance that should turn out to be higher than Invest's previous expectations.

"While the fourth quarter is reassuring and will not reflect any major deterioration compared with the third quarter, visibility remains limited due to the migration of the model to SaaS, which disrupts performance analysis", says the analyst in substance.

Invest Securities adds that short-term earnings trends are 'difficult to predict', and that the financial situation 'could become tighter in the event of a temporary deterioration in performance'.


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