Vinci: Credit Suisse adjusts target price.
(CercleFinance.com) - Credit Suisse has reiterated its "ouperform" rating on the Vinci stock and has raised its target price from 84 euros to 86 euros, after the group nudged up its 2017-20EPS estimates by around 1% to 2%.
“Airport traffic and margins offset lower construction margins. We see rising free cash-flow and growth in Concessions supporting a higher quality earnings mix,” the analyst explained.
Credit Suisse deems that the share's valuation is still attractive, with it trading at around 16x 2017e EPS, and benefiting from underlying EPS growth of around 9% over the next three years.
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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.
“Airport traffic and margins offset lower construction margins. We see rising free cash-flow and growth in Concessions supporting a higher quality earnings mix,” the analyst explained.
Credit Suisse deems that the share's valuation is still attractive, with it trading at around 16x 2017e EPS, and benefiting from underlying EPS growth of around 9% over the next three years.
Copyright (c) 2017 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.