Bouygues: Oddo a buyer after Capital Markets Day
(CercleFinance.com) - Oddo maintains its Buy recommendation on the Bouygues stock, along with its target price of 49 euros, following the Capital Markets Day organised by the group yesterday, which was dedicated to its construction businesses.
The broker underlines several points: "1/ a strong momentum in order taking in Construction, both in France and internationally; 2/strong commercial dynamics in mobile and landline telephony, despite the price environment; 3/ a low risk of marginalisation in fiber, due to the rise in backbook prices, which enables the group to be aggressive at entry level; 4/ the combination of Alstom's railway operations, which the broker appreciates.
The group believes that it will be able to maintain a group margin of around 3.5% and a strong generation of free cash over the long term.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The broker underlines several points: "1/ a strong momentum in order taking in Construction, both in France and internationally; 2/strong commercial dynamics in mobile and landline telephony, despite the price environment; 3/ a low risk of marginalisation in fiber, due to the rise in backbook prices, which enables the group to be aggressive at entry level; 4/ the combination of Alstom's railway operations, which the broker appreciates.
The group believes that it will be able to maintain a group margin of around 3.5% and a strong generation of free cash over the long term.
Copyright (c) 2018 CercleFinance.com. All rights reserved.