Bouygues: Oddo still a buyer after agreement on fiber
(CercleFinance.com) - Yesterday evening as Bouygues Telecom signed a partnership with Axione and the Mirova infrastructure fund (Natixis group), to deploy 3.
4 million FTTH lines in very dense areas, Oddo BHF this morning announced that it is maintaining its “buy” rating on the stock, believing that with this agreement, Bouygues is fully in the game in fixed telephony, and it perpetuating its presence in fiber.
The agreement signed yesterday serves to outsource Capex and reduce the deployment bill in dense areas and will perpetuate Bouygues' presence in fiber. After the cold spell of October with a one-off cost of 123 million euros for its Construction business, the sound performance of the Telecom division and a strong order intake (in Construction and at Colas) reassure us on the underlying trend of Bouygues' business for Q4 and into 2019, analysts say.
The broker has set a target price of 44 euros for the share, which means upside potential of 30%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
4 million FTTH lines in very dense areas, Oddo BHF this morning announced that it is maintaining its “buy” rating on the stock, believing that with this agreement, Bouygues is fully in the game in fixed telephony, and it perpetuating its presence in fiber.
The agreement signed yesterday serves to outsource Capex and reduce the deployment bill in dense areas and will perpetuate Bouygues' presence in fiber. After the cold spell of October with a one-off cost of 123 million euros for its Construction business, the sound performance of the Telecom division and a strong order intake (in Construction and at Colas) reassure us on the underlying trend of Bouygues' business for Q4 and into 2019, analysts say.
The broker has set a target price of 44 euros for the share, which means upside potential of 30%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.