Bouygues: Credit Suisse provides outlook for 2020

(CercleFinance.com) - The broker maintains its "outperform" rating on the Bouygues share, with a target price of 40 euros after the group announced its 2019 results.


Credit Suisse believes that the outlook for telecoms remains solid: "Mobile telecommunications revenue trends remained impressive in the fourth quarter of 19. We maintain our forecast for EBITDA growth of +6%".

The analysis office also highlights solid outlook for construction: "We raise B Construction/Colas 20E EBIT 2-3% on the back of a better revenue outlook and Q4 19 performance".

We raise Immobilier 20E EBIT 11% which is small in absolute terms but notable for being the first hike to our Immobilier estimates in over a year," it adds.

These factors together underpin the broker's positive stance towards the share.


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