Capgemini: UBS adjusts target price

(CercleFinance.com) - UBS confirms its buy recommendation on the share, raising its target price for it to E220 (from E210), after its 2024 results.
This TP represents a 36% upside potential for the stock.

Capgemini is losing market share (even outside France), and the outlook for H1 suggests a continuation of the same trend. With a 7% return on FCF and a return to growth in H2, we think this is priced in, UBS says.

Capgemini is targeting sales growth at constant exchange rates of between -2 and +2% for 2025, an operating margin of 13.3% to 13.5%, and organic free cash flow generation of around E1.9bn.


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