Bouygues: favourable dynamic, Oddo raises target

(CercleFinance.com) - After the difficulties in the first half of the year (lockdown and municipal elections entailing a freeze on building permits), Bouygues expects the 2nd quarter to catch up, indicates Oddo.


The group has not concealed its interest in Spie, even though the group is not for sale, and is also looking at Engie's assets to potentially reinforce the energy and services sector.
The group is also looking at complementary geographical coverage, namely in Scandinavia, Germany or North America, says the analyst.

In the domain of telecoms, Oddo considers that the group's guidance, citing a 2nd quarter with no growth, seems too cautious. The broker maintains its buy recommendation and raises its price target to 38 euros, compared to 32 euros previously.

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