Capgemini: H1 2018 results slightly above estimates, H2 2018 to grow at lower rates (
Capgemini: (BUY, Fair Value EUR131 vs. EUR128 (+12%))H1 2018 results slightly above estimates, H2 2018 to grow at lower rates
We reiterate our Buy rating and raise our DCF-derived Fair Value to EUR131 from EUR128 following the adjustment to our WCR assumptions. Yesterday evening Capgemini reported H1 2018 results slightly above estimates, excluding non-recurring items (restructurings pushed forward and EUR18m US tax adjustment). FY18 cc sales growth guidance has been notched up slightly (>+7% vs. +6%/+7%) and cautiously implies lower lfl growth in H2. We do not expect the share price to react short-term.
Capgemini is a consulting and IT services provider. Co. works closely with technology partners at the cutting edge of innovation in major trends such as: Cloud, Big Data and mobility. Co. offers its clients skills in a variety of fields, such as digital transformation and digital customer experience, Cloud, Big Data, mobility, testing, cyber security, application management. In addition, Co. helps its clients enhance their performance and sharpen their competitive edge by offering them a range of skills grouped around four major businesses: Consulting Services through Capgemini Consulting, Technology Services (TS), Local Professional Services through Sogeti, and X Outsourcing Services (OS).
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.