Capgemini: Jefferies still a buyer, despite Accenture
(CercleFinance.com) - Jefferies maintains its "buy" rating on Capgemini shares, along with its target price of E210, citing the implications of the latest results published by its US peer Accenture for the French IT services group.
The broker hoped that "strong exit momentum at Capgemini (in both revenues and bookings) from FY22 were a platform for better than consensus trading in 1Q23".
"However, the magnitude of slowing growth at Accenture suggests this view maybe too optimistic," Jefferies believes, which has cut its organic growth forecast towards the consensus level, although leaves its FY figures largely unchanged.
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