Spie: Oddo BHF still a buyer

(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on Spie shares, sticking to its target price of E32.


The analyst points out that the fundamentals (sales and margins) are still in good shape for Q2, after the excellent performance in Q1.

For example, in Q1 the group recorded very strong organic growth of 10.9%. For Q2 2023, its comparison basis remains favourable (Q2 2022 +4.9% LFL) and Spie still says that it is not seeing any slowdown in its different markets, Oddo BHF points out, adding that the order book remains very solid.

Spie confirmed that it would remain very active in seizing opportunities over the coming months.

The broker says that group has considerable leeway, with FCF estimated to remain above E300m.


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