(News Bulletin 247) – Stifel reiterates its ‘buy’ recommendation on Vinci while raising its target price from 115 to 125 euros, believing that “the stock should start to strongly outperform the local French market and continue its outperformance against the sector” .
‘The fall in bond yields is a positive element for the group’s large portfolio of concessions, which should bring it relative visibility in an uncertain economic environment’, judges the broker.
Stifel further sees the continued post-Covid normalization of Vinci Airports and the impact of recent acquisitions (namely Cobra and OMA) ‘supporting earnings momentum above consensus’.
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