Vinci: RBC raises its target price

(CercleFinance.com) - RBC announced on Tuesday that it had raised its price target for Vinci from 130 to 135 euros, while renewing its 'outperform' rating on the stock.


In a research note, the Canadian broker believes that the results of the concessions business could hold some pleasant surprises this year, thanks to a favorable base effect and the current strength of air traffic.

The broker adds that the stock's valuation remains "attractive", explaining that shareholders are currently being remunerated on the basis of a dividend yield of over 4.5%, while waiting for the stock to recover.

RBC also sees a possible extension of Gatwick airport as a positive catalyst for a share price recovery.

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