Teleperformance: Oddo BHF reduces its target price
(CercleFinance.com) - Oddo BHF remains "outperform" on Teleperformance, but with an adjusted price target of E257 to E238, in the wake of EPS assumptions lowered by 1% for 2023 and 5% for 2024, to take account of less sustained organic growth.
" Clearly, given the uncertainties surrounding organic growth in particular, the Group's revaluation should be a medium-term process as publications come out ", said the analyst after a roadshow with management in the United States.
However, the research department highlights the contact center group's " undeniable value profile, with an EV/EBITA 2023 valuation of 7.1x (7.6x for Concentrix) and an FCF yield in excess of 10% ".
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