Eiffage: Stifel on hold, but ups TP

(CercleFinance.com) - While maintaining its "hold" rating on Eiffage shares, Stifel has nudged up its target price for them from 104 euros to 107 euros, expecting good annual results on 22 February, supported by a recovery in motorway traffic and inflationary trends that are still favourable.


Regarding 2023, the broker believes that margins in contracting could be challenged somewhat by wage inflation, while revenues should remain resilient.

"Motorways may be impacted by slowing HV traffic, while tariffs are set to increase. Getlink should recover, but ties up a lot of capital without full access to its cash," it added.


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