Bouygues : Factoring in the halt in construction, target price € 32 vs € 44
>Guidance abandoned, dividend suspended but a solid balance sheet - Unsurprisingly, Bouygues has abandoned its guidance for 2020 (cf. our equity flash of 1 April). Note that the guidance was for € 1bn in free cash flow, an improvement in the operating margin in construction and a double-digit operating margin for TF1. Bouygues believes that it is too soon to announce new targets. The group also changed the resolution on the dividend, which is therefore not cut but for...Bouygues is a global industrial group engaged in designing, building and operating structures in public and private buildings, transportation infrastructure and energy and communication networks. Co. operates in three sectors - Construction (Bouygues Construction, Bouygues Immobilier and Colas), Media (TF1) and Telecom (Bouygues Telecom). Construction is engaged in the design and maintenance of projects in the areas of building, civil works, energies and services; Media offers activities covering the audiovisual sector; and Telecom offers mobile broadband services and prepaid card services for smart phones, as well as a range of services including telemessaging, voice mail and WAP
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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