Invest Securities has raised its recommendation to buy (from neutral) on the stock, with a target price of 155E, in line with the offer price.

The analyst believes that the stock has fallen below 150E, offering significant potential in relation to Keysight's offer price of 155E, which should be launched in late 2023/early 2024.

Given that Keysight has secured the support of shareholders representing more than 50% of the capital, the risk of failure of the operation is very low, and there is even a possibility that Keysight will have to outbid us if it wants to obtain more than 90% of the capital and carry out the squeeze-out (cf. Alain de Rouvray's position with 4.1% of the capital)," says the research firm.

In view of this favorable risk/reward, we are upgrading our opinion to Buy.

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