Teleperformance: UBS downgrades stock, slashes TP

(CercleFinance.com) - UBS has downgraded the Teleperformance stock to neutral (from buy), slashing its target price for it to E130 (from E380).


"Current growth headwinds & long-term disruption debates are unlikely to pass quickly. Despite trough 8x PE, we cut to Neutral with a new model to flex AI impact," UBS says.

For the record, Teleperformance has adjusted its annual financial targets for 2023; it is now targeting LFL sales growth excluding "Covid contracts" of between +6% and +8%, with a confirmed target for an underlying EBITA margin that is up 50 bp to 16%.


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