Bouygues: up, broker's opinion after results

(CercleFinance.com) - Bouygues gained more than 3% in Paris after the morning publication of its results.

Earlier today, Oddo BHF maintained its 'neutral' rating on the stock, with an unchanged target price of 34 euros.

As a reminder, this morning Bouygues published quarterly sales up by 1.5%, including +1.5% lfl, in line with consensus expectations (+0.7%), and net income up to 501 ME, ahead of expectations.

The Group maintains its 2024 outlook unchanged. Bouygues is targeting slightly higher sales and ROCA than in 2023.

Oddo BHF believes that the share should react well, buoyed by a good Q3.

Nor do we see any urgent need to buy the stock aggressively, as the outlook for 2024 growth, particularly in telecoms where the competitive environment is deteriorating, could weigh on the stock's short-term performance", adds the analyst.

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