Bouygues: Credit Suisse adjusts target price

(CercleFinance.com) - Credit Suisse maintains its "outperform" rating on the Bouygues share, having nudged up its corresponding target price from 37 euros to 38 euros, after updating its estimates following Bouygues Telecom's CMD (+3% for its estimated operating profit in 2021).


"The CMD raised some short term concerns on capex and near-term EBITDA margins but long term growth guidance was above our forecasts", the broker says, for which "ByTel can deliver a unique growth profile".


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