Capgemini: Credit Suisse confirms rating

(CercleFinance.com) - Credit Suisse has raised its target price for the Capgemini share to 121 euros (against 108 euros) and has confirmed its outperform rating on the share.


"The risk to our target price is that the Covid-19 disruption is greater than expected, but this risk is not isolated to Capgemini and shouldn't justify the current relative valuation discount in our view".

"IT services are cyclical and it is inevitable that global macroeconomic uncertainty will weigh on the outlook. Significantly, we see limited operational risks as the IT services business model has evolved to accommodate offshore working," Crédit Suisse says.

"Consequently, the current remote access/ home working environment still enables services to be delivered to customers."



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