Capgemini: Credit Suisse adjusts target price
(CercleFinance.com) - Credit Suisse analysts have cut their target price for the Capgemini share on Thursday, citing macro uncertainties (linked to coronavirus) and ahead of its acquisition of Altran.
The broker, which still rates the share 'outperform' has therefore cut its target price from 140 euros to 130 euros.
"The coronavirus Covid-19 outbreak inevitably puts downward pressure on global economic momentum. Pre-emptively, and without any guidance from management, we now take a more cautious view of underlying trading in FY20," Credit Suisse 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.
The broker, which still rates the share 'outperform' has therefore cut its target price from 140 euros to 130 euros.
"The coronavirus Covid-19 outbreak inevitably puts downward pressure on global economic momentum. Pre-emptively, and without any guidance from management, we now take a more cautious view of underlying trading in FY20," Credit Suisse 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.