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Eiffage: Barclays raises target price

(CercleFinance.com) - Like Vinci, Barclays believes that Eiffage's APRR will benefit from strong growth in traffic, although at a much slower pace than Vinci Autoroutes.


Analysts are counting on a solid new quarter, still largely boosted by works of the Grand Paris Express project.

"This leads us to expect a FY-19 EBIT of EUR1.99bn, slightly ahead of our previous forecast. We forecast net income and DPS to grow 15%," Barclays says.

"Now that the Toulouse and Lille airports transactions are closed, Eiffage's first foray in the segment, we would expect management to update on outlook / strategy in this field," analysts add.

Barclays is therefore raising its target price for the share to 117 euros (against 105 euros previously), while maintaining its "overweight" rating.


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