Eiffage: Oddo cuts target price, but still a buyer
(CercleFinance.com) - While reducing its target price for the Eiffage share from 119 euros to 85 euros, Oddo BHF reinstates its "buy" rating on the share, anticipating a sharp, albeit temporary fall in activity in 2020, with its business model not called into question.
While the broker estimates that the EBITDA of its motorway subsidiary APRR will drop by 50%, the broker highlights abundant cash and limited refinancing maturities for the construction and concessions group.
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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.
While the broker estimates that the EBITDA of its motorway subsidiary APRR will drop by 50%, the broker highlights abundant cash and limited refinancing maturities for the construction and concessions group.
Copyright (c) 2020 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.