Invest Securities reiterates its 'neutral' opinion on Visiativ, with an adjusted target price of €28 to €27, the day after the announcement of the acquisition of 1Life, which is 'fully in line with the Shift 5 plan strategy'.

'The operation also enables the company to become an integrator for a new software publisher (in this case Open-Prod), thus slightly reducing its dependence on Dassault Systèmes', the research firm acknowledges.

However, the target is not very profitable, and the transaction is likely to fuel criticism of Visiativ's low short-term profitability and high debt levels', it warns, pointing to 'a context of rising interest rates and a worsening macro environment'.

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