RBC announced on Thursday that it had lowered its price target for Teleperformance from 400 to 340 euros, although it continues to see "material" upside potential for the stock.

After an "annus horribilis" in 2023, the Canadian broker - which maintains its "outperform" rating on the stock - says it expects the share price to continue to trend below its intrinsic value.

However, RBC believes that the defensive growth characteristics of the customer experience outsourcing specialist, as well as the levers at its disposal to protect its margins, still represent an investment opportunity, whether from a short-term or long-term perspective.

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.