(Boursier.com) — Teleperformance climbs another 1.4% to 100 euros at the start of the session in Paris this Friday, still helped by the group’s latest quarterly publication and the maintenance of its 2024 objectives. The specialist in customer relationship outsourcing reported A turnover of €2.542 billion in the first quarter, up +26.7% based on published data and +0.9% based on pro forma data compared to the same period last year. Performance superior to market expectations. Building on this 1st quarter well underway, the group confirmed its annual financial objectives with pro forma growth of between +2% and +4% and an increase in recurring EBITA margin of between +10 bps and +20 bps, on a pro forma basis, excluding Majorel integration costs…
Supporting Brokers
Among the latest broker opinions, Goldman Sachs is ‘neutral’ on the value, but with an adjusted target upwards from 114 to 130 euros. RBC, for its part, believes that this publication constitutes one of the “important first steps” towards rebuilding credibility with the investment community. Morgan Stanley, for its part, underlines that organic growth was around 130 basis points higher than its estimate and around 170 bps higher than the consensus. The bank emphasizes that the integration of Majorel is on track… AlphaValue remains a buy on the file, targeting 138 euros.
The group confirmed its annual guidance, notably assuming a better H2 on an easier basis of comparison and the ramp-up of recently signed contracts, underlined TP ICAP Midcap which reiterated its ‘buy’ recommendation accompanied by an adjusted target price at 163 euros after updating the comparables, although aware that doubts about the interference of AI remain in people’s minds, for the time being… The stock gained more than 5% over the week but remains in drop of 25% since January 1.
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