(News Bulletin 247) – JCDecaux posted the biggest rise in the SBF 120 on the Paris Stock Exchange on Friday, Deutsche Bank having bought the stock, believing that the current price offers an interesting opportunity.
Around 10:20 a.m., the stock climbed 3.9% while the SBF 120 index rose only 0.4%.
In its note, Deutsche Bank stresses that it is appropriate to acquire the stock, which it considers a first-class player in the media sector, when cyclical concerns begin to appear.
“This is the case today,” assures the German bank, which recalls that the outdoor advertising specialist has underperformed the market by around 25% since March.
If Deutsche Bank recognizes that the group is exposed to the slowdown in Chinese growth, the establishment considers that this element is now well integrated into the courses.
DB also considers that the holding of the Olympic Games next year in Paris could constitute an additional source of income.
Its unchanged target price of 21 euros shows an upside potential of around 30%.
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.
