(CercleFinance.com) – Deutsche Bank announced on Monday that it had lowered its price target on the Telepeformance share from 140 to 110 euros, considering that many questions remained unanswered in the development of the matter.
The research office – which maintains its ‘hold’ recommendation on the stock – underlines that significant clouds still surround the short, medium and long term prospects of the French group.
In the immediate future, the analyst says he sees no sign of an upcoming reacceleration of activity in call centers, a profession where American operators have cut nearly 20% of their jobs since the end of 2020.
The number of employees in the sector is now lower than its 1996 level, he argues, with a rate of job destruction which still reached 9% last January, he continues.
More generally, Deutsche notes that the comments of both customer experience outsourcing specialists and business process management (BPO) players have been tinged with caution recently.
With investment spending remaining under pressure among clients, growth is expected to be weak in the first half of the 2024 financial year, the analyst concludes.
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