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Capgemini: Oddo BHF upgrades stock

( - Oddo BHF has upgraded the Capgemini stock from "neutral" to "buy," while raising its corresponding target price from 114 euros to 120 euros, believing that the stock did not react as well as it should have on Tuesday, after the IT services group's trading update.

Following this publication, the broker has raised its Q4 organic growth forecast to -2.5% (compared with -3.5% previously), which has a marginal impact on its annual forecast (-3.3% organic compared with -3.7% previously).

Judging this publication to be "very reassuring", Oddo BHF adds that Capgemini offers some visibility in the near term and that the prospect of announcing new margin targets at its CMD in the first quarter of 2021 serves as catalyst.

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