Bouygues: Crédit Suisse adjusts TP
(CercleFinance.com) - Crédit Suisse reaffirms its "outperform" rating on the Bouygues share, having nudged up its corresponding target price from 36 euros to 37 euros, after updating its model in the wake of the group's Q3 results, raising its estimate for 2021 operating profit by 3%.
"Q4 will prove challenging but longer term we see a solid outlook based on 1) macro recovery in European construction; 2) Bouygues Telecoms is one of Europe's best mobile assets, in our view," the broker says.
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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.
"Q4 will prove challenging but longer term we see a solid outlook based on 1) macro recovery in European construction; 2) Bouygues Telecoms is one of Europe's best mobile assets, in our view," the broker says.
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.