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OVHCloud: Credit Suisse initiates coverage with 'Outperform'

( - Credit Suisse on Wednesday initiated coverage of OVHcloud's stock with an "outperform" rating and a target price of 27 euros, which represents upside potential of over 30%.

In its comments, the broker highlights that the French group is the only European provider of large-scale cloud infrastructure, with a network of 33 global data centres.

Credit Suisse justifies its favourable opinion by a valuation that it considers attractive, and by the group's exposure to well identified growth trends, such as the "hybrid" cloud or data sovereignty.

The broker, says, "We see an attractive risk/reward with a Blue Sky valuation of E39 offering 90% potential upside".

The share is up almost 4% this afternoon.

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