Eiffage: Oddo BHF raises its estimates and target price.
(CercleFinance.com) - Following the group's results, Oddo BHF has raised its EBIT estimate by 3.
2% and has upped its target price to 92 euros. The broker has also confirmed its buy rating on the stock, with it still trading at an attractive valuation (2018 adjusted FCF yield of 10.2%).
Oddo BHF believes that Eiffage has published solid first-half results. Slightly above expectations (+5.8%). Its analysts have underlined that thanks to a sharp drop in financial costs (-8%), its net income rose by 30% over H1.
Management recognises that the group's business is stronger than it expected in February and that this momentum seems to be continuing into H2.
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