(CercleFinance.com) – Deutsche Bank on Friday raised its advice on JCDecaux shares from ‘hold’ to ‘buy’ with an unchanged price target of 21 euros showing an upside potential of around 30%.
In a note sent to its clients, Deutsche Bank stresses that it is appropriate to acquire the stock – which it considers to be a first-class player in the media sector – when cyclical concerns begin to appear.
“This is the case today,” assures the German bank, which recalls that the outdoor advertising specialist has underperformed the market by around 25% since March.
If Deutsche Bank recognizes that the group is exposed to the slowdown in Chinese growth, the establishment considers that this element is now well integrated into the courses.
DB also considers that the holding of the Olympic Games next year in Paris could constitute an additional source of income, while recalling that its strong international presence represents a lever for long-term growth, under the effect of the digitization, the purchase of online advertising space and sustainable development.
The Germanic bank adds that the consolidation of the sector could also play a positive role, the French group being according to it well placed with a view to carrying out mergers and acquisitions (M&A) operations.
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