Bouygues: stock stays afloat thanks to broker upgrade
(CercleFinance.com) - Keeping its head above water in Paris, with the CAC 40 down about 1.
5% after lunch, the share of the conglomerate Bouygues is up almost 1%, thanks to Jefferies upgrading its rating on the stock from "hold" to "buy", while raising its corresponding target price from 34 euros to 40 euros.
"Despite a rally into 2Q, BYG is trading at among the widest discounts we've seen in years," the broker says, although it considers the group's growth outlook to be "solid" and forecasts a "positive" momentum for it.
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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% after lunch, the share of the conglomerate Bouygues is up almost 1%, thanks to Jefferies upgrading its rating on the stock from "hold" to "buy", while raising its corresponding target price from 34 euros to 40 euros.
"Despite a rally into 2Q, BYG is trading at among the widest discounts we've seen in years," the broker says, although it considers the group's growth outlook to be "solid" and forecasts a "positive" momentum for it.
Copyright (c) 2021 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.