(News Bulletin 247) – Jefferies reaffirms its ‘buy’ recommendation and its target price of 210 euros on Capgemini, returning to the implications for the French IT services group of the latest results published by its American peer Accenture.
The broker hoped that ‘the strong exit momentum at Capgemini (both in terms of revenue and order intake) from 2022 provided a platform for above-consensus activity in the first quarter of 2023’.
“Nevertheless, the extent of the slowdown in growth at Accenture suggests that this view may be overly optimistic,” said Jefferies, who cut his organic growth forecast towards consensus but left his annual figures largely unchanged.
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