Vinci: Stifel still a buyer, but trims TP
(CercleFinance.com) - While reducing its target price for the share from E125 to E120, Stifel reiterates its "buy" rating on Vinci, judging that "Despite the impact of higher rates and taxes on its Concessions, earnings momentum remains intact".
Beyond the quarterly trading update on 26 October, the broker believes that attention should be focused on the COBRA investor day and potential M&A - particularly in its airports division.
"In a more uncertain environment this quality company should remain a relative safe haven for investors", the broker says, who still sees continued upside potential for the stock based on its sum-of-the-parts (SOTP) valuation.
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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.
Beyond the quarterly trading update on 26 October, the broker believes that attention should be focused on the COBRA investor day and potential M&A - particularly in its airports division.
"In a more uncertain environment this quality company should remain a relative safe haven for investors", the broker says, who still sees continued upside potential for the stock based on its sum-of-the-parts (SOTP) valuation.
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.