Vinci: stock boosted by broker upgrade
(CercleFinance.com) - Vinci shares are up over 1.
5% on Thursday morning in Paris, one of the biggest winners in the sluggish CAC 40 (-0.3%), after Barclays upgraded its rating on the stock.
In a note on the European infrastructure sector, the broker said that it has upgraded its rating on Vinci shares from "equal weight" to "overweight", having increased its target price for the shares from 109 euros to 113 euros.
Analysts explain that the current environment - which is marked by a rise in bond yields and uncertainty relating to the Omicron variant of Covid - seems to favour groups such as Vinci and Eiffage.
Barclays points out that both these French companies benefit from shorter-term financing, better protection against inflation and a recovery in traffic compared to Spain's Ferrovial, which it has downgraded to "equal weight".
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