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Investing.com - Deutsche Bank (ETR:DBKGn) raised its price target on Capgemini SE (EPA:CAP) to EUR186.00 from EUR180.00 on Tuesday, while maintaining a Buy rating on the stock.
The price target increase follows Capgemini’s announcement of its acquisition of WNS (NYSE:WNS) for USD3.3 billion in cash, equivalent to USD76.50 per share, representing a 17% premium to WNS’s closing price on July 3.
The deal, which has been unanimously approved by both companies’ boards, is expected to close by year-end, subject to regulatory approvals, according to Deutsche Bank’s analysis.
Capgemini expects revenue synergies in the range of EUR100-140 million and cost and operating synergies of EUR50-70 million by the end of 2027, the bank noted.
The acquisition is projected to deliver 4% pre-synergies accretion in 2026 earnings per share and 7% post-synergies accretion in 2027 earnings per share, with Deutsche Bank’s calculations suggesting 6% and 7% (post-synergies) accretion in 2026 and 2027 EPS, respectively.
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