(AOF) – JCDecaux soars 8.84% to 17.60 euros on the Paris Stock Exchange. The outdoor communications specialist, in the red during the last four sessions, benefits from an increase in recommendation from Oddo BHF, which goes from “neutral” to “outperform” with a price target of 22 euros. The broker underlines that “France (18% of turnover) is particularly dynamic with the organization of the Rugby World Cup and the prospect of the Olympics in 2024 (already impacting reservations)”.
The trend is also positive in the United States, the Middle East, Brazil and Southeast Asia. On the other hand, China (12% of turnover) probably shows almost zero organic growth.
Management spoke of a “very sluggish trend” during the summer due to the economic context but also contract losses in Canton.
“The group confirms its growth guidance for the third quarter at +7%. We are slightly more positive and expect an increase of 8.5% (vs +7% previously) based on our reading of the market in France and the USA in particular”, underlines Oddo BHF.
© 2023 Agence Option Finance (AOF) – All rights reserved by AOF. AOF collects its data from the sources it considers the safest. However, the reader remains solely responsible for their interpretation and use of the information made available to them. The reader must therefore hold AOF and its contributors harmless from any claim resulting from this use. Agence Option Finance (AOF) is a brand of the Option Finance group
Did you like this article ? Share it with your friends with the buttons below.
