(News Bulletin 247) – Oddo BHF maintains its ‘outperformance’ rating on the Teleperformance share, with a price target reduced from 390 to 354 euros, ‘due to the adjustment of the risk premium/risk-free rate (rate discount 8.4% vs 8%)’, specifies the analyst.
Yesterday evening, the group published a turnover of 2006 million euros for the 1st quarter, up 2.2% but at a level slightly lower than the estimates of Oddo BHF (2036 ME) and the consensus (2057 ME ).
‘Most of the difference with the estimates is linked to the dilutive impact on sales of the ramp-up of offshore (impact -0.6pt; see below)’, underlines the analysis office.
In addition, Teleperformance’s management has slightly adjusted its expectations for the full year, indicating that it expects organic revenue growth of around +7% (vs. above 7% initially), while the the operating profit target has been raised to 16% (vs. 15.7% previously).
‘In the end, the guidance adjustment for 2023 is rather neutral on our EPS. The adjustment of -2.2% on average over 2023-2024 is linked to an unfavorable currency effect (USD),’ concludes Oddo BHF.
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.
