Vinci: Oddo raises target price

(CercleFinance.com) - Oddo maintains its "outperform" rating on Vinci shares, having increased its target price for them from 109 euros to 118 euros.


With Vinci set to publish its annual results on 9 February, the analyst expects traffic for the year to be 1.8% higher than in pre-Covid 2019. Meanwhile, Oddo estimates Vinci Airports to post traffic equal to 73.5% of its 2019 level with a clear improvement at the end of the year (82.7% in December).

After +11.7% over nine months, Oddo expects Vinci Construction's Q4 revenues to rise by 8.2%. Growth will also continue to be driven by Vinci Energies (+9.3% in Q4) and Cobra IS, the broker adds.

Overall, analysts expect earnings of 4,253 million euros, 30% above the 2019 level.


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