Bouygues: Bryan Garnier upgrades stock
(CercleFinance.com) - Broker Bryan Garnier has upgraded its rating on the Bouygues stock from "neutral" to "buy," while placing its fair value for the share under review, following the conglomerate's publication of annual results that exceed expectations.
The broker highlights Q4 net income of 372 million euros, well above the consensus of 190 million euros, as well as underlying operating profit of 444 million euros and revenues of 9,076 million euros, respectively 2.5% and 5.4% above the consensus.
The "Outlook is fine with the backlog up 8% at constant currencies at end December, vs 9% at end September," Bryan Garnier also notes, which sees a favourable momentum for all of the group's businesses.
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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 broker highlights Q4 net income of 372 million euros, well above the consensus of 190 million euros, as well as underlying operating profit of 444 million euros and revenues of 9,076 million euros, respectively 2.5% and 5.4% above the consensus.
The "Outlook is fine with the backlog up 8% at constant currencies at end December, vs 9% at end September," Bryan Garnier also notes, which sees a favourable momentum for all of the group's businesses.
Copyright (c) 2018 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.