(Boursier.com) — JC Decaux camped below 18 euros this Tuesday, while Goldman Sachs remains neutral on the issue by targeting a price of 20.70 euros. Over 9 months, the group’s adjusted organic turnover increased by +8%. The published growth is +6.9% for an overall adjusted turnover of 2.44 billion euros over the period (2.283 billion euros in 2022).
Among the latest reactions from brokers, Citi had adjusted its target to 18.2 euros while remaining ‘neutral’ and Barclays is now targeting a price of 24 euros while remaining ‘overweight’.
“While the slow recovery continued in China, our revenue outside China in the 3rd quarter increased by +9.9% organically and exceeded its 2019 level for the first time. This performance was driven by the strong growth of digital, the solid recovery of transport and the continued growth of street furniture”, indicated Jean-François Decaux, Chairman of the Management Board and Co-Chief Executive Officer of JCDecaux, who added: “Regarding the 4th quarter, we now expect organic revenue growth of around +6%, driven in part by the continued recovery in transport.
The manager concluded: “We are convinced that outdoor advertising will continue to gain market share, in a fragmented advertising landscape where DOOH (Digital Out of Home) is the 2nd fastest growing media. As number one of the sector and the most digitalized global outdoor communications company, we believe that we are ideally positioned to take advantage of this digital transformation.
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