Financial analysts updated their stock ratings and price targets on Friday for Eiffage, Orange, and Pernod Ricard, according to BFM Bourse.
Equity research firm Alphavalue maintained its buy recommendation on Eiffage but reduced its price target to 176 euros, down from 184 euros previously. Shares in the French construction and civil engineering group had settled at a closing price of 108.80 euros on Thursday.
Alphavalue also revised its stance on telecommunications provider Orange, upgrading its recommendation to accumulate from a previous rating of reduce. The brokerage set a new price target of 17.7 euros for the stock, following a Thursday closing price of 15.1 euros.
Global investment bank Citi kept its buy recommendation on drinks manufacturer Pernod Ricard. However, the bank trimmed its price target on the stock to 94 euros from 100 euros previously, after the shares finished Thursday trading at 64.50 euros.
Corporate profiles and brokerage ratings
The three businesses represent major sectors of the French equity market. Eiffage is one of Europe's leading infrastructure, public works, and motorway concessions operators. Orange provides mobile, broadband, and digital services across Europe and Africa, having previously operated as the state telecommunications provider France Telecom. Pernod Ricard is an international drinks producer known for major spirits labels including Absolut vodka, Jameson Irish whiskey, and Martell cognac.
Alphavalue operates as an independent equity research house covering European corporate equities, whereas Citi is an international banking group. In equity research, a buy recommendation signifies that an analyst expects a share price to outperform the wider market over the medium term. An accumulate rating is a milder positive stance, advising investors to build up their shareholdings gradually rather than buying aggressively in a single transaction.
Target prices represent an analyst's estimate of where a stock will trade over a given forecasting horizon, typically six to twelve months. In all three instances, the published targets remain above Thursday closing prices, indicating that both research firms continue to see room for valuation growth as European markets trade through Friday.
