ARCADIS - Target price update
Yesterday Arcadis published a 3Q trading update that were slightly below expectations, although still signing up for a solid y/y growth. The share reacted very heavily, trading more than 11% lower at the end of the day. Despite the short-term headwinds, we still believe in Arcadis upcoming margin improvements on the longer term. We updated our model and revised our TP to €46. We rate the stock Accumulate.Arcadis NV is a global asset design and consultancy company. The Company is engaged in providing consultancy, design, engineering and management services in the area of infrastructure, water, environment and buildings. The Company's segments include Americas; Europe and Middle East; Asia Pacific, and CallisonRTKL. Its business lines include infrastructure, water, environment and buildings. Infrastructure business line focuses on sustainable infrastructure solutions for transportation by road, rail, air and over water, and creating reliable energy supply systems. The Company is an environmental solutions provider to private industry, and delivers projects that protect the earth's resources. It offers water supply, treatment, management and conveyance solutions. The Company also offers contract solutions, master planning and sustainable urban development, commercially led program management, business advisory, data analysis and architecture and design solutions.
We are a financial services provider for several types of professional clients, each with distinct needs.
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