03:20 AM EDT, 05/05/2026 (MT Newswires) -- AlphaValue/Baader Europe revised its EPS forecasts for Capgemini (CAP.PA), accounting for the French IT and consulting group's better-than-expected first-quarter earnings and upcoming restructuring-related charges.

Analysts lowered their EPS estimates for full years 2026 and 2027 by 11.2% and 6.03%, respectively, to 8.76 euros and 9.47 euros. However, the research firm said it maintains its constructive view on the stock, noting Capgemini is "ideally positioned"to capitalize on the initial phase of artificial intelligence deployments.

"The downward adjustment to our net profitability estimate stems from a more rigorous integration of the costs associated with the 'Fit for Growth'strategic plan, and the integration of WNS. These restructuring charges, estimated at around EUR200m this year, have been reassessed and directly impact the P&L, leading us to revise our operating margin assumption from 10.8% to 9.5%. However, this recalibration is primarily accounting-driven and does not affect the organic free cash flow trajectory, which remains in the EUR1.8-1.9bn range for 2026,"according to a Monday note.

AlphaValue/Baader Europe rates the stock at buy, with a price target of 136 euros.

Capgemini on April 30 reported first-quarter revenue of 5.94 billion euros, up 7% at current exchange rates.