Eiffage: Oddo maintains 'buy' rating after results
(CercleFinance.com) - Oddo says that Eiffage published H1 sales that exceeded expectations, increasing 11.
6% (against +8.8% expected), including +9.1% LFL. EBIT is bang in line with the consensus expectations (836 million vs. 837 million euros (e)). Net profit is significantly higher than expected (+18% e).
The broker also states that the group has confirmed its sales and earnings growth estimates for 2019.
Following this publication, Oddo confirms its "buy" rating on the share, with a target price of 103 euros.
It says that the group has a very good short-term operational momentum, with few risks identified in the near term. With an adjusted FCF yield of over 10% (vs. under 7% for Vinci), the share's valuation is very attractive, while Oddo says that, in its opinion, external growth does not represent a major risk.
Copyright (c) 2019 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.
6% (against +8.8% expected), including +9.1% LFL. EBIT is bang in line with the consensus expectations (836 million vs. 837 million euros (e)). Net profit is significantly higher than expected (+18% e).
The broker also states that the group has confirmed its sales and earnings growth estimates for 2019.
Following this publication, Oddo confirms its "buy" rating on the share, with a target price of 103 euros.
It says that the group has a very good short-term operational momentum, with few risks identified in the near term. With an adjusted FCF yield of over 10% (vs. under 7% for Vinci), the share's valuation is very attractive, while Oddo says that, in its opinion, external growth does not represent a major risk.
Copyright (c) 2019 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.