Eiffage: Barclays upgrades stock
(CercleFinance.com) - Judging the valuation "particularly convincing," Barclays has upgraded its recommendation on the Eiffage from "weight in line" to "overweight," despite trimming its target price for the share from 101 euros to 98 euros, in the wake of a 6% reduction in its EPS estimates.
"We believe Eiffage's underperformance relative to its closest peer and co-investor in APRR provides an attractive entry point," says the broker in its report on Eiffage.
Barclays adds that the impact of the yellow vests protests is now widely known and that while housing in France remains a headwind, there is an upbeat momentum for civil engineering, which is more important for Eiffage.
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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.
"We believe Eiffage's underperformance relative to its closest peer and co-investor in APRR provides an attractive entry point," says the broker in its report on Eiffage.
Barclays adds that the impact of the yellow vests protests is now widely known and that while housing in France remains a headwind, there is an upbeat momentum for civil engineering, which is more important for Eiffage.
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.