Eiffage: Stifel cuts target price
(CercleFinance.com) - Stifel maintains its "hold" rating on Eiffage shares, reducing its target price for them from E111.
5 to E102.5.
With Eiffage set to publish its quarterly results on 8 November, the analyst expects trends in Q2 2023 to continue.
For FY 2023, the broker has nudged up its sales estimates by 1.1% to E21.8bn (+1.0% vs. consensus), and its underlying operating profit estimate - by 1.1% as well, to E2,396m (+1.1% vs. consensus), suggesting a stable margin.
Nevertheless, Stifel believes that the stock looks oversold and cheap, which is not without reason - the analyst in particular points to the high level of bond yields, as well as questioning the group's long-term strategy.
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.
5 to E102.5.
With Eiffage set to publish its quarterly results on 8 November, the analyst expects trends in Q2 2023 to continue.
For FY 2023, the broker has nudged up its sales estimates by 1.1% to E21.8bn (+1.0% vs. consensus), and its underlying operating profit estimate - by 1.1% as well, to E2,396m (+1.1% vs. consensus), suggesting a stable margin.
Nevertheless, Stifel believes that the stock looks oversold and cheap, which is not without reason - the analyst in particular points to the high level of bond yields, as well as questioning the group's long-term strategy.
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.