Bouygues: Stifel still on hold
(CercleFinance.com) - Stifel maintains its "Hold" rating on Bouygues shares, with an unchanged target price of E32.
The analyst updates his estimates for Q3 and FY 2023, although points out "only marginal changes" from his previous estimates.
Thus, for Q3, Stifel anticipates group sales growth of +32.2% (+0% LFL) to E14.8bn, mainly thanks to the consolidation of Equans, albeit impacted by unfavourable real estate and TV advertising environments.
Stifel also estimates that the buyout of Colas' minority interests should cost the Group about E180m by Q4, while the sale of district heating and cooling systems in the UK should bring in around £260m (~E302m) by the end of the year.
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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.
The analyst updates his estimates for Q3 and FY 2023, although points out "only marginal changes" from his previous estimates.
Thus, for Q3, Stifel anticipates group sales growth of +32.2% (+0% LFL) to E14.8bn, mainly thanks to the consolidation of Equans, albeit impacted by unfavourable real estate and TV advertising environments.
Stifel also estimates that the buyout of Colas' minority interests should cost the Group about E180m by Q4, while the sale of district heating and cooling systems in the UK should bring in around £260m (~E302m) by the end of the year.
Copyright (c) 2023 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.