Spie: Stifel on hold but raises target price
(CercleFinance.com) - Stifel maintains its 'Hold' rating on Spie shares, with a target price raised from E36 to E39.
After welcoming Spie to a Conference on Transport, Business Services and Leisure last week, the analyst expresses 'some comfort with the group's trajectory, even after a period of outperformance due to higher inflation.
Management is working on a new set of medium-term objectives, which could probably be disclosed in 2025, the broker explains.
Stifel believes that organic and M&A-led growth should continue to perform well.
We are aware of the group's quality, but given the limited upside potential for the time being, we are reiterating our 'Hold' recommendation, it concludes.
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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.
After welcoming Spie to a Conference on Transport, Business Services and Leisure last week, the analyst expresses 'some comfort with the group's trajectory, even after a period of outperformance due to higher inflation.
Management is working on a new set of medium-term objectives, which could probably be disclosed in 2025, the broker explains.
Stifel believes that organic and M&A-led growth should continue to perform well.
We are aware of the group's quality, but given the limited upside potential for the time being, we are reiterating our 'Hold' recommendation, it concludes.
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.