Spie: Oddo BHF raises target price
(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on Spie shares, with a target price raised from E40.
5 to E48.
Ahead of its CMD, being held in Paris today, Spie group's management has announced a roadmap for 2025 - 2028.
This is based on average business growth of between +7% and +9% p.a. and an operating margin of at least 7.7% by 2028, compared with 7.2% in 2024.
The group targets EBITA of over E1bn in 2028, and estimates that over 2025-2028, cumulative FCF should therefore exceed E2bn.
At the CMD, management will give further details of this 2025-2028 plan. We believe that average organic growth of between +3% and +4% is achievable, bearing in mind that growth of +4% was already mentioned in the 2023-2025 strategic plan, the analyst says.
Copyright (c) 2025 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.
5 to E48.
Ahead of its CMD, being held in Paris today, Spie group's management has announced a roadmap for 2025 - 2028.
This is based on average business growth of between +7% and +9% p.a. and an operating margin of at least 7.7% by 2028, compared with 7.2% in 2024.
The group targets EBITA of over E1bn in 2028, and estimates that over 2025-2028, cumulative FCF should therefore exceed E2bn.
At the CMD, management will give further details of this 2025-2028 plan. We believe that average organic growth of between +3% and +4% is achievable, bearing in mind that growth of +4% was already mentioned in the 2023-2025 strategic plan, the analyst says.
Copyright (c) 2025 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.