Bouygues: Barclays upgrades share
(CercleFinance.com) - Barclays has upgraded its rating on the Bouygues share from "weight in line" to "overweight," and has raised its target price from 39.
5 euros to 44 euros, considering it well placed given its operational momentum, in a note on French telecom services.
"The French competitive environment continues to show improving trends in Q3 19. With players having given up on forcing consolidation, this more constructive environment should last," the broker says.
BarCap says that while ROCE in the sector remains low (c. 5%), less promotional activity and lower commercial costs should be supportive of margin expansion overall, while capex remains stable.
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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.
5 euros to 44 euros, considering it well placed given its operational momentum, in a note on French telecom services.
"The French competitive environment continues to show improving trends in Q3 19. With players having given up on forcing consolidation, this more constructive environment should last," the broker says.
BarCap says that while ROCE in the sector remains low (c. 5%), less promotional activity and lower commercial costs should be supportive of margin expansion overall, while capex remains stable.
Copyright (c) 2019 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.