Vinci: Stifel raises its target price

(CercleFinance.com) - Stifel confirms its 'buy' rating on Vinci shares, raising its target price for them from E128 to E133, seeing the French construction and concessions group's stock "as way of weathering seasonality and any rotation-driven market volatility".


"Vinci continues to show good, albeit slowing, earnings momentum, while post COVID-19 its defensive characteristics are making a comeback", the broker says, which sees this as positive for the stock in the context of the sector.

"The stock screens reasonably well in context of our preferred criteria. High European exposure and its rate sensitive concessions exposure should help. A rebound in housing, however, should not be a main driver for the stock", it continues.


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