(News Bulletin 247) – While maintaining its ‘hold’ recommendation, Stifel is raising its price target on Eiffage from 107 to 112 euros, seeing a series of factors that should continue to support the stock and the sector as a whole in 2023.
‘With no discernable group-specific catalyst, and being somewhat more exposed to a recession, we expect Eiffage to lag behind its direct contracting peers, although 2023 should at worst be a year resilient,’ he said.
‘Although we appreciate a measured and patient approach, Eiffage’s strategy may be too conservative for its own good’, adds the broker, hoping nevertheless that an adjustment in valuations ‘crystallizes new M&A opportunities’.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
