(CercleFinance.com) – Spie shares posted one of the best performances in the SBF 120 index on Thursday on the Paris Stock Exchange in the wake of a price target increase by Berenberg.
The broker, which remains buying on the title, raised its target this morning on the title from 29 to 32 euros, believing that the French engineering group is now at an inflection point.
“Following the investor day organized at the end of April, we are convinced that the company is at a pivotal moment from which its organic growth should accelerate and its profitability improve,” he explains in a note. .
According to Berenberg, this situation should allow him to redistribute more cash, via dividends, and to conduct possible acquisitions, favorable prospects which are not yet integrated into the stock market according to him.
Around 11:10 a.m., Spie shares rose 2.1%. Its decline since the start of the year is limited to 3%, when the SBF 120 shows an annual decline of more than 10%.