Spie: Jefferies cuts its target price
(CercleFinance.com) - Jefferies reiterates its "underperform" rating on the Spie stock, having cut its target price for the share from 14.
3 euros to 11.4 euros, thinking that "incremental headwinds from the CICE transition are not considered in current consensus margin expectations".
"Elsewhere, we believe Spie's recent de-rating has been driven by cash flow and balance sheet risks which have increased the importance of FY18 results as a catalyst," the broker adds.
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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.
3 euros to 11.4 euros, thinking that "incremental headwinds from the CICE transition are not considered in current consensus margin expectations".
"Elsewhere, we believe Spie's recent de-rating has been driven by cash flow and balance sheet risks which have increased the importance of FY18 results as a catalyst," the broker adds.
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.