Capgemini: Oddo BHF on hold, adjusts target price

(CercleFinance.com) - While maintaining its 'neutral' rating, Oddo BHF has trimmed its target price for Capgemini shares from E229 to E226, ahead of a trading update for the IT services group (30 April), in which it expects growth to be 'subdued'.


The broker anticipates a significant deterioration in the Q1 decline (-4%) compared with Q4 (-0.9%), due to difficult base effects and weak demand for discretionary projects.

Oddo BHF says that the recovery in growth should be gradual over 2024, and it is marginally adjusting its annual organic growth forecast (+0.5% vs. +1% previously), as well as its currency assumptions.


Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.