Oddo BHF is maintaining its 'neutral' rating on Bouygues shares, with an unchanged target price of 32 euros, as Bouygues reported this morning a 38% increase in nine-month sales (including +2% lfl), in line with consensus expectations (+38%).

In addition, EBIT was 6% above expectations in Q3, thanks to Colas and Equans, and net income for the first nine months came in at 665 ME vs. 537 ME for 9M 2022.

In view of this positive momentum, the Group has confirmed its full-year outlook, i.e. stable sales and growth in operating income compared with 2022.

'Bouygues shares have performed rather solidly since the start of the year, in line with the market and the sector', analyzes Oddo BHF.

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