ADP shares were one of the biggest decliners on the SBF 120 index on Wednesday morning on the Paris Bourse, in the wake of a downgrade by Deutsche Bank.
At around 10:45 a.m., the airport operator's shares were down by more than 1%, while the SBF was virtually unchanged.
In a sector note, Deutsche Bank indicates that it has downgraded its advice on the share to 'hold' from 'buy', with a price target lowered from 142 to 130 euros.
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Aéroports de Paris develops and manages airports, including Paris-Charles de Gaulle, Paris-Orly and Paris-Le Bourget. In 2024, the Group handled more than 103 million passengers at Paris-CDG, Paris-Orly and Paris-Le Bourget, and c. 261 million passengers abroad. Boasting an exceptional geographic location and a major catchment area, Aéroports de Paris is pursuing its strategy of adapting and modernizing its terminal facilities, upgrading quality of services and developing retail and real estate businesses. Sales break down by activity as follows:
- supply of airport services (33.3%): air traffic management, intermodal transport and terminal management, installation of airport infrastructure, passenger check-in and transfer, baggage handling, aircraft handling (cleaning, guidance, assistance with positioning and start-up, loading and unloading of aircraft), etc.;
- operating sales areas and services (27.9%): shops, restaurants, banks, exchange offices, etc.;
- real estate management (4.7%): land and commercial real estate property leasing (businesses, offices, hotels, logistics buildings, etc.);
- other (34.1%): including international airport management, airport engineering services, specialized telecommunications services, etc.
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