(News Bulletin 247) – Bank of America announced on Wednesday that it had revised its price target for Vinci upwards, from 116 to 120 euros, while renewing its buy recommendation on the stock.
In a note of reaction, the analyst indicates to have raised his estimates of results on the group following a publication of the first quarter much better than expected, which he attributes mainly to the strength of its construction activities.
As a result, the intermediary raises its revenue forecast for 2023 by 7%, its current operating profit (Ebit) target by 3% and its EPS estimate by 4%.
He justifies, more generally, his favorable opinion on the stock by the solid trajectory of results from which the group benefits as well as by its solid record in terms of operational execution.
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.
