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Bouygues: Bryan Garnier raises target price.

(CercleFinance.com) - While maintaining its "neutral" rating on Bouygues, Bryan Garnier has raised its fair value for the share from 37 euros to 44 euros, after updating its estimates to take into account the latest results and trends, as well as the Alstom-Siemens merger.

"Our valuation multiples are up significantly, with a rerating in all activities in line with the favourable results and outlook across the board," the broker explains.

Nevertheless, after the rise of the Bouygues share price over the past two months, the broker does " not think momentum is favourable for a stronger rerating in coming months.”

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