Vinci: Oddo still a buyer as sales beat estimates
(CercleFinance.com) - On Tuesday evening Vinci published quarterly sales that, although down 6.
4%, beat the expected fall of 9.3%.
Although revenues at airports plummeted 74.5%, those on the group's motorways only slipped 2.8%, Oddo notes.
In addition, the order book has reached a new high, with order intake in the third quarter down by just 7% y-o-y, the analyst continued.
Trends observed are in line with forecasts and Vinci has delivered a reassuring message on orders from local authorities, Oddo believes.
Against this backdrop, the broker maintains its buy recommendation on the share, with a target price of 93 euros.
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.
4%, beat the expected fall of 9.3%.
Although revenues at airports plummeted 74.5%, those on the group's motorways only slipped 2.8%, Oddo notes.
In addition, the order book has reached a new high, with order intake in the third quarter down by just 7% y-o-y, the analyst continued.
Trends observed are in line with forecasts and Vinci has delivered a reassuring message on orders from local authorities, Oddo believes.
Against this backdrop, the broker maintains its buy recommendation on the share, with a target price of 93 euros.
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.