Teleperformance: Oddo BHF still a buyer

(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on Teleperformance shares, with an unchanged target price of E134.


The analyst reports that last night, Teleperformance announced that it had signed a definitive agreement to acquire 'ZP Better Together', a leading provider of language solutions and technology platforms for the deaf and hard-of-hearing in the US.

Strategically, this operation will strengthen Teleperformance's Language Line Solutions business (interpreting), and is in line with the company's desire to develop its specialized services activities, the analyst points out.

Financially, the size of the operation remains relatively limited in relation to Teleperformance's FCF (950m/1bn euros), and we emphasize the accretive nature of the transaction (around 5% in our opinion), he concludes.


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