(News Bulletin 247) – Oddo BHF reaffirms its ‘outperformance’ opinion with an adjusted price target of 124 to 125 euros on Eiffage, the day after a half-yearly publication by the construction and concessions group in line with sales expectations and the ROC.
‘The fall in the share price linked to the ‘bad buzz’ on the motorways constitutes an opportunity to strengthen itself on the cheap’, estimates the research office, for which ‘the valuation remains very attractive’ with an adjusted FCF yield of the order of 15%.
‘Eiffage is making its way quietly, but the operational dynamic seems to be present for this start of the year and should continue (resilience of motorway traffic, solidity of the construction order book, growth in energy services)’, judges he.
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