Capgemini: Jefferies still a buyer, despite Accenture
(CercleFinance.com) - Jefferies maintains its "buy" rating on Capgemini shares, along with its target price of E210, citing the implications of the latest results published by its US peer Accenture for the French IT services group.
The broker hoped that "strong exit momentum at Capgemini (in both revenues and bookings) from FY22 were a platform for better than consensus trading in 1Q23".
"However, the magnitude of slowing growth at Accenture suggests this view maybe too optimistic," Jefferies believes, which has cut its organic growth forecast towards the consensus level, although leaves its FY figures largely unchanged.
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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 hoped that "strong exit momentum at Capgemini (in both revenues and bookings) from FY22 were a platform for better than consensus trading in 1Q23".
"However, the magnitude of slowing growth at Accenture suggests this view maybe too optimistic," Jefferies believes, which has cut its organic growth forecast towards the consensus level, although leaves its FY figures largely unchanged.
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.