ADP: Oddo BHF raises target price

(CercleFinance.com) - An analyst at Oddo BHF this morning said that he is increasing his target price for the ADP (Aéroports de Paris) share, boosted by the strength of traffic and the acceleration in business at boutiques.


Therefore the broker has raised its target price for the share from 171 euros to 177 euros. Indeed, Oddo BHF has retained solid Q3 2018 results, which have led it to raise its 2018 EPS estimates by 0.7%, followed by 5.3% in 2019.

However, the analyst maintains his neutral rating on the share. There still are many areas of uncertainty surrounding the group's privatisation process (including how many shares will be sold to individual investors) and he believes that visibility will improve slightly in the run-up to the enactment of the law. At this time, the broker says that will be in a better position regarding whether it should (or should not) apply a higher premium to the share.



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