Stifel maintains its 'hold' rating on Eiffage shares, with a price target reduced from 111.5 to 102.5 euros.

With Eiffage due to publish its quarterly results on November 8, the analyst expects trends in the second quarter of 2023 to continue.

For fiscal 2023, the brokerage slightly increases its sales estimates by +1.1% to 21.8 billion euros (+1.0% vs. consensus), and its current operating profit estimate by +1.1% to 2,396 million euros (+1.1% vs. consensus), implying a stable margin.

Nevertheless, Stifel feels that the stock looks 'oversold and cheap', which is not without reason, the analyst pointing in particular to the high level of bond yields and also questioning the long-term strategy.

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