Bouygues: stock up on broker comments
(CercleFinance.com) - The Bouygues share is up over 1% in early Friday afternoon trading, benefiting from positive comments from Credit Suisse, which reiterates its "outperform" rating on the share, while raising its corresponding target price from 34 euros to 36 euros, the day after the conglomerate published its Q2 results.
Pointing out that results "showed a mix of better underlying performance in construction and telco activities, combined with a favorable phasing profile for earnings," the broker has raised its forecast for current operating profit by 9% for this year.
"We see Bouygues as the best-placed exposure to an improving macro backdrop post-lockdown in our coverage universe," Credit Suisse adds.
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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.
Pointing out that results "showed a mix of better underlying performance in construction and telco activities, combined with a favorable phasing profile for earnings," the broker has raised its forecast for current operating profit by 9% for this year.
"We see Bouygues as the best-placed exposure to an improving macro backdrop post-lockdown in our coverage universe," Credit Suisse adds.
Copyright (c) 2020 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.