Vinci: UBS reiterates buy rating
(CercleFinance.com) - UBS reiterates its buy recommendation on Vinci shares, with a target price of E134, i.
e. 33% upside potential.
The group has a highly diversified exposure to infrastructure and contracts at an attractive valuation. Strong FCF generation and French tax legislation also offer opportunities, UBS says.
In all, its order book at 30 June 2024 reached the record level of E67.3bn, i.e. 9% above its level at 30 June 2023.
Regarding its outlook, Vinci forecastd a further increase in sales for 2024, albeit on a smaller scale than in 2023. Operating results should also improve. Net income could be close in 2024 to the level achieved in 2023.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
e. 33% upside potential.
The group has a highly diversified exposure to infrastructure and contracts at an attractive valuation. Strong FCF generation and French tax legislation also offer opportunities, UBS says.
In all, its order book at 30 June 2024 reached the record level of E67.3bn, i.e. 9% above its level at 30 June 2023.
Regarding its outlook, Vinci forecastd a further increase in sales for 2024, albeit on a smaller scale than in 2023. Operating results should also improve. Net income could be close in 2024 to the level achieved in 2023.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.