Eiffage: BarCap still says 'weight in line'
(CercleFinance.com) - Barclays (BarCap) reinstates its "weight in line" recommendation on Eiffage, following the group's publication of H1 results, which it saw much to cheer about.
"Nevertheless, we believe many investors have overlooked the Construction miss, which we think signals a more competitive and cost inflationary environment in Paris," the broker said.
“This is offset by stronger Infrastructures and Energy Systems but results in no change to our estimates. As traffic normalises and refinancing is well known, the equity story relies on wise capital allocation,” it continues.
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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.
"Nevertheless, we believe many investors have overlooked the Construction miss, which we think signals a more competitive and cost inflationary environment in Paris," the broker said.
“This is offset by stronger Infrastructures and Energy Systems but results in no change to our estimates. As traffic normalises and refinancing is well known, the equity story relies on wise capital allocation,” it continues.
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.