(Boursier.com) — In a market that is still bullish, Teleperformance remains stuck at only 84 euros this Wednesday on the Parisian market after its recent purge. Analysts continue to adjust on the file after the presentation of the annual results of the call center giant. The latest is BNP Paribas Exane which remains at ‘outperformance’, but with a target adjusted from 205 euros to 173 euros. SocGen had already lowered its target from 220 to 200 euros while remaining ‘purchase’. TP ICAP Midcap also remains a buyer on the stock after its recent tumble. The absence of growth in the first half of the year, as well as the uncertainties around the adoption of AI and its interference on the medium-long term growth and profitability profile do not argue for a rerating of the stock, explained the analyst who, however, chose to believe that Teleperformance will be able to support its clients with the best possible architecture, although it has reduced the growth potential and operational leverage in its model.
HSBC is also buying on the file, but only targeting a price of 150 euros, while Oddo BHF explained for its part that if the 2023 results came out lower than analysts’ expectations, concerns come especially the slowdown in organic growth in a context of uncertainty around the adoption of artificial intelligence and its deflationary impact on activity… The valuation of the file is very low, but it will not be enough on its own to lead to a “rerating” in the short term which will mainly depend on the ability to return to more sustained organic growth (around 5%). The broker therefore lowered its target to 164 euros, but reiterated its opinion of ‘outperformance’ in a medium-term context while awaiting the first concrete elements during the second part of 2024.
The stock has lost 35% since the start of the year on the Paris stock market.
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