Vinci: RBC raises target price
(CercleFinance.com) - RBC announced on Tuesday that it has raised its target price for Vinci shares from E130 to E135, while renewing its outperform rating on them.
The Canadian broker believes that the results of the concessions business could hold some positive surprises this year, due to a favourable comparison basis 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 expansion of Gatwick airport as a positive catalyst for a share price recovery.
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