Eiffage: RBC initiates as buyer, with E125 TP
(CercleFinance.com) - RBC announced on Tuesday that it had begun to monitor Eiffage shares with an "outperform" rating and a target price of E125.
The Canadian broker considers the stock to be "particularly cheap" within the sector, trading at a P/E of around 8x and a 2025 EV/EBITDA multiple of less than five, despite FCF yield of over 15% for 2025/2026, based on its estimates.
In its opinion, this discount largely reflects French political uncertainty, a factor he feels is far less visible in French government bond yields or the overall French stockmarket.
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 a decision-making aid 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.
The Canadian broker considers the stock to be "particularly cheap" within the sector, trading at a P/E of around 8x and a 2025 EV/EBITDA multiple of less than five, despite FCF yield of over 15% for 2025/2026, based on its estimates.
In its opinion, this discount largely reflects French political uncertainty, a factor he feels is far less visible in French government bond yields or the overall French stockmarket.
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 a decision-making aid 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.