Teleperformance: Goldman Sachs resumes coverage - buy rating
(CercleFinance.com) - Goldman Sachs has resumed its coverage of the Teleperformance share with a buy rating and a 12-month target price of 245 euros, meaning upside potential of over 25%.
Indeed, the share's performance and trend are upbeat. However, Goldman Sachs believes that the story is not over yet and that Teleperformance "will continue to deliver high single-digit organic revenue growth with modest margin expansion." As a result, the broker forecasts about 8% organic revenue CAGR and 11% for EPS over 2019-23.
"While the shares have re-rated strongly in the last few years, Teleperformance is still trading at a discount to other high growth business services and IT peers," the broker says in its report.
Copyright (c) 2019 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.
Indeed, the share's performance and trend are upbeat. However, Goldman Sachs believes that the story is not over yet and that Teleperformance "will continue to deliver high single-digit organic revenue growth with modest margin expansion." As a result, the broker forecasts about 8% organic revenue CAGR and 11% for EPS over 2019-23.
"While the shares have re-rated strongly in the last few years, Teleperformance is still trading at a discount to other high growth business services and IT peers," the broker says in its report.
Copyright (c) 2019 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.