Spie: Oddo BHF raises target price

(CercleFinance.com) - Oddo BHF confirms its 'outperform' rating on Spie shares, with a target price raised from E38 to E40.
5, following the organization of a roadshow in the US.

The analyst points out that the group has not given any precise indications on its organic growth, but has confirmed that Q4 should be better oriented, which Oddo BHF considers 'reassuring'.

The broker also refers to the order book, which is "well oriented", and stresses that for 2025, all geographies are expected to grow.

Despite macroeconomic uncertainties, Spie still benefits from satisfactory business visibility, driven by the energy transition (85% of sales secured by the order book and additional work), Oddo BHF adds.

Finally, the broker points out that EBITA is expected to grow by at least 8%/10% p.a. over the next few years, and that medium-term targets will be specified at a CMD (investor day) on 7 March 2025.


Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.