UBS reaffirms its 'buy' recommendation on Eiffage, with a price target lowered from €140 to €137, a new target that holds a 49% upside potential for the French construction and concessions group's stock.

An IRR (internal rate of return) on equity of 12%, even after taking into account potentially higher taxes, looks convincing", the broker believes, following the publication of half-yearly results last week.

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