(News Bulletin 247) – Berenberg maintained its buy recommendation on the Spie stock on Thursday, with a new target price of 34 euros, against 33 euros previously.
According to the analyst, the engineering group’s 2022 annual results showed (1) that organic growth had gradually accelerated in the second half of the year and (2) that profitability is holding up despite current wage pressures.
If the professional believes that this publication has been greeted with ‘skepticism’ by investors, he expects that the attention of the market will focus, over the next 18 or 24 months, on the group’s ability to generate cash, a quality he considers underestimated by the financial community.
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