ADP: Bank of America reduces target price

(CercleFinance.com) - While maintaining its 'buy' recommendation on Aéroport de Paris (ADP) shares, based on a valuation that is 'hardly demanding' and upside potential in 2025 targets and consensus, Bank of America cuts its target price from E155 to E150.


ADP's share price fell by 8% on Thursday, probably due to comments on higher capex at the time of the 2024 results, the broker notes, also mentioning targets for 2025 that are in line.

Visibility on capital expenditure (budgets, timing) is low. However, they should boost regulated and non-regulated EBITDA, BofA adds, which maintains ADP in its list of best ideas for the first quarter.


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