Vinci: Stifel raises target price

(CercleFinance.com) - Stifel maintains its "hold" rating on Vinci shares, while pointing out that the stock has underperformed the sector since the beginning of the health crisis.


Stifel notes that the Concessions segment is still suffering from Covid, with the recent lockdowns and restrictions again affecting motorway traffic, while the recovery of air traffic is taking shape.

However, the broker highlights the "good news" of a rebound in the French construction sector and the "good deal" made by Vinci, in its acquisition of ACS Industriel Services.

As a result, Stifel is raising its target price from 75 euros to 85 euros (current price: about 90.5 euros, -0.3%).

Other opportunities could be generated with the future recovery of the Concessions business, the broker continues, although it remains to be seen whether this will be enough to generate outperformance.


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