Eiffage: Oddo confirms rating
(CercleFinance.com) - Eiffage has announced that it has bought 5.
03% of Getlink's capital on the market, i.e. 4.33% of the group's voting rights.
Following this announcement, Oddo confirms its buy rating and its target price 106 euros. Eiffage says it intends to be a long-term investor in Getlink and reserves the possibility to continue its purchases depending on market conditions, the broker says.
In our opinion, the main uncertainty lies in the future evolution of traffic and the consequences of Brexit, for which the vote has been postponed from 9 December to 15 January. A hard Brexit would probably have consequences to begin with - first in terms of FX factors, but also regarding Eiffage's financial leverage, Oddo emphasised.
The broker believes that Getlink remains highly dependent on its only asset, i.e. le Tunnel. Vinci knows something about it; the group discretely took a stake in Eurotunnel 10 years ago before finally selling it quickly, with no dramatic consequences...
Copyright (c) 2018 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.
03% of Getlink's capital on the market, i.e. 4.33% of the group's voting rights.
Following this announcement, Oddo confirms its buy rating and its target price 106 euros. Eiffage says it intends to be a long-term investor in Getlink and reserves the possibility to continue its purchases depending on market conditions, the broker says.
In our opinion, the main uncertainty lies in the future evolution of traffic and the consequences of Brexit, for which the vote has been postponed from 9 December to 15 January. A hard Brexit would probably have consequences to begin with - first in terms of FX factors, but also regarding Eiffage's financial leverage, Oddo emphasised.
The broker believes that Getlink remains highly dependent on its only asset, i.e. le Tunnel. Vinci knows something about it; the group discretely took a stake in Eurotunnel 10 years ago before finally selling it quickly, with no dramatic consequences...
Copyright (c) 2018 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.