Capgemini: Invest Securities raises target price
(CercleFinance.com) - The broker believes that the IT services group published excellent preliminary results, significantly above expectations.
It says that while the group's statement does not give any details, which means we are unable to understand all the reasons for these very good figures, it pushes us to adopt a much better scenario and raise our EPS estimates by +10.4%/+5.2%/+5.1% over 2020-22.
Analysts have therefore raised their target price for the share to 89 euros, vs. 74 euross previously (new downside potential of 18%).
Nevertheless, the stock's return to levels that are close to its peaks and the downside potential relative to our target price justify why we maintain our sell rating.
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.
It says that while the group's statement does not give any details, which means we are unable to understand all the reasons for these very good figures, it pushes us to adopt a much better scenario and raise our EPS estimates by +10.4%/+5.2%/+5.1% over 2020-22.
Analysts have therefore raised their target price for the share to 89 euros, vs. 74 euross previously (new downside potential of 18%).
Nevertheless, the stock's return to levels that are close to its peaks and the downside potential relative to our target price justify why we maintain our sell rating.
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.