Stifel maintains its 'Hold' rating on Eiffage shares, with an unchanged target price of 102.5 euros.

The analyst believes that Eiffage's Q3 sales were 'solid' and 'in line with consensus', with sales driven by the Infrastructure and Energy divisions.

' However, Construction disappointed, still impacted by difficult market conditions and low visibility', analyzes Stifel.

The broker also adds that Eiffage has so far given no indication as to the 2024 financial year.

' While Eiffage's upside potential is hard to ignore, we believe that it is its conservative strategy, rather than its outlook, that is carrying the stock so far ', says Stifel.


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