CFE
Yesterday, CFE spun off DEME, which is now separately listed on Euronext Brussels. Although the new CFE might not be everyone's cup of tea, we believe current valuation is completely unjustified. We think that yesterday's drop is largely caused by the excessive sale of large cap funds, for which CFE doesn't match the criteria. This creates a buying opportunity for people who are able to see the value. Buy & €15 TP.CFE is engaged in civil engineering, buildings and industrial construction, dredging works and electrical installations. Co. is also engaged in property development, environmental protection and building management. Co.'s works carried on by Co.'s civil engineering group includes the following: hydraulic engineering, harbor works, bridges, and other engineering works, tunnels, road construction, dams, storage tanks, piping and drainage and caissons sunken soft soil. Co.'s buildings and industrial construction sector is active in the following fields: administrative buildings, industrial construction, public utility buildings, redevelopment, and residential buildings.
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