UBS has reaffirmed its 'buy' recommendation on Vinci, raising its target price from €116 to €122. This new target represents a potential upside of 21% for the French construction and concessions group's shares.

"We believe that momentum is positive for 2023, helped by inflation, the upturn in airport traffic and, increasingly, investment in the energy transition", the broker judges in the summary of its research note.

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