Vinci: Oddo BHF confirms buy rating
(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on Vinci shares, with an unchanged target price of E145.
The analyst reports that last Friday in Paris, Vinci organised a CMD dedicated to its Energies division.
Beyond cash generation, the priority remains operating margin, but above all continued expansion both organically and through acquisitions (target of 5%-10% p.a., in line with CAGR 2013-23 at +7.6%, of which +4.4% at ccs and +5.7% through acquisitions).
Oddo BHF considers the operating margin target (7.5% by 2030) to be "extremely conservative", but points out that this is customary for the group.
The group has clearly and precisely confirmed its best-in-class status, not only in Europe, but above all worldwide, the broker adds, which considers the CMD to have been successful - both in terms of form and content.
It's a pity that the share price is still weighed on by French political uncertainties. Whether in terms of the economy or taxation, France is no longer anyone's dream, it concludes.
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 a decision-making aid 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.
The analyst reports that last Friday in Paris, Vinci organised a CMD dedicated to its Energies division.
Beyond cash generation, the priority remains operating margin, but above all continued expansion both organically and through acquisitions (target of 5%-10% p.a., in line with CAGR 2013-23 at +7.6%, of which +4.4% at ccs and +5.7% through acquisitions).
Oddo BHF considers the operating margin target (7.5% by 2030) to be "extremely conservative", but points out that this is customary for the group.
The group has clearly and precisely confirmed its best-in-class status, not only in Europe, but above all worldwide, the broker adds, which considers the CMD to have been successful - both in terms of form and content.
It's a pity that the share price is still weighed on by French political uncertainties. Whether in terms of the economy or taxation, France is no longer anyone's dream, it concludes.
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 a decision-making aid 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.