Invest Secutities maintains its 'neutral' rating on Visiativ shares, with a price target reduced from 27 to 22 euros.

The analyst reports that although the stock has dropped 16% in the space of a month, the downturn would not represent an opportunity in view of the low short-term visibility surrounding results (cf. Q3 and especially Q4 23) and financial structure.

'Committed to a plan focused on growth at the expense of profitability even as the macro environment deteriorates, Visiativ should see its results contract in 2023-24th (before a significant rebound in 2025), which could create stress with regard to the financial situation', stresses the broker.

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