Teleperformance: UBS raises target price

(CercleFinance.com) - The analyst highlights the improved growth momentum in Q2.
It confirms its neutral recommendation on the stock, but raises its target price for it to E100 (from E97).

Sales growth of +2.4% y-o-y is well above the consensus, with a positive return to growth in the core business. The outlook for FY 2024 is reiterated, but an acceleration is expected in H2, UBS says.

Teleperformance has therefore confirmed its 2024 financial targets, i.e. pro-forma sales growth of +2% to +4%, and between a +10bp and +20bp increase in recurring EBITA margin on a pro-forma basis.


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