Capgemini: Credit Suisse raises target price
(CercleFinance.com) - Credit Suisse reaffirms its "outperform" rating on the Capgemini share and raises its corresponding target price from 130 euros to 150 euros, seeing the message that the group should perform better than during the last crisis as "an encouraging sign of the group's resilience".
"Against this backdrop, we believe the current valuation represents an attractive entry point," the broker says, although in the near term sees that better-than-expected trading at sector bellwethers like SAP and Accenture raises buy-side expectations for operational outperformance at Capgemini.
In its note analysts therefore warn against relying on short-term upside potential for forecasts. It has cut its EPS estimates by 3% for fiscal years 2020 and 2021.
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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.
"Against this backdrop, we believe the current valuation represents an attractive entry point," the broker says, although in the near term sees that better-than-expected trading at sector bellwethers like SAP and Accenture raises buy-side expectations for operational outperformance at Capgemini.
In its note analysts therefore warn against relying on short-term upside potential for forecasts. It has cut its EPS estimates by 3% for fiscal years 2020 and 2021.
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.