On Thursday, Berenberg maintained its Buy recommendation on Spie shares, with a new price target of 34 euros, up from 33 euros previously.

According to the analyst, the engineering group's 2022 annual results showed (1) that organic growth had gradually accelerated in the second half of the year, and (2) that profitability was resilient despite current wage tensions.

While the professional believes that this publication has been greeted with "skepticism" by investors, he expects the market's attention to focus, over the next 18 to 24 months, on the group's ability to generate cash, a quality he feels is underestimated by the financial community.

Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.