ADP: Stifel upgrades stock

(CercleFinance.com) - Stifel has upgraded Aéroports de Paris (ADP) shares from 'hold' to 'buy', with a target price raised from E130 to E148, after the stock's underperformance relative to its peers (for nearly two year), sue to certain macro and group-specific risks.


Analysts believe that these headwinds could soon abate, as the group is due to change its CEO in January 2025 and fully offset the infrastructure tax from April 2025.

Stifel also believes that the market is completely unaware of ADP's stake in GMR Airports, and that although specific country risks could remain, an improvement in GMR's fundamentals and communication could further support the share price.


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