Bouygues: Oddo still a buyer after Alstom divestment
(CercleFinance.com) - Bouygues announced yesterday that it has old 29.
15 million Alstom shares. After this placement, Bouygues will still hold 14.7% of Alstom's capital.
Following this announcement, Oddo confirms its buy rating on the Bouygues share, with a target price of 44 euros.
The broker says that this announcement doesn't really come as a surprise; Alstom is no longer a strategic stake for Bouygues and the question of its transfer has already been asked.
On unveiling the group's Q2 results, Martin Bouygues said that Bouygues has entered into a phase integrating acquisitions already made; without ruling out the possibility of making new acquisitions in the next few months, the broker believes that the group will take its time before continuing - logically continuing to acquire players (in B2B) in tthe elecom sector, Oddo says.
Finally, Oddo believes that Bouygues could well sell the rest of its stake in Alstom in the next 12 months.
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.
15 million Alstom shares. After this placement, Bouygues will still hold 14.7% of Alstom's capital.
Following this announcement, Oddo confirms its buy rating on the Bouygues share, with a target price of 44 euros.
The broker says that this announcement doesn't really come as a surprise; Alstom is no longer a strategic stake for Bouygues and the question of its transfer has already been asked.
On unveiling the group's Q2 results, Martin Bouygues said that Bouygues has entered into a phase integrating acquisitions already made; without ruling out the possibility of making new acquisitions in the next few months, the broker believes that the group will take its time before continuing - logically continuing to acquire players (in B2B) in tthe elecom sector, Oddo says.
Finally, Oddo believes that Bouygues could well sell the rest of its stake in Alstom in the next 12 months.
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.