Major investment banks have adjusted their ratings and price targets on Veolia, Safran and GTT, according to French financial news service BFM Bourse. The adjustments, published on Monday in reports shared with Reuters, set out revised expectations for six prominent French corporations across utilities, aerospace, energy and consumer sectors.
Jefferies resumed research coverage on utility group Veolia with a hold recommendation, following a previous market close at 32.09 euros. Veolia operates global water distribution, waste management and energy services for municipal and industrial clients.
Research firm Bernstein cut its stance on Gaztransport and Technigaz, commonly known as GTT, downgrading the stock to market perform from a previous rating of outperform. Bernstein also lowered its price target for the engineering group to 210 euros from 245 euros, with the shares having closed at 205 euros. GTT specializes in cryogenic membrane containment systems used across global shipping fleets to transport and store liquefied natural gas.
Target cuts for Safran and Eutelsat
Aerospace supplier Safran faced price target reductions from two investment banks after closing at 271.8 euros. Jefferies reduced its target on the aircraft equipment manufacturer to 300 euros from 340 euros, while Deutsche Bank cut its target to 350 euros from 398 euros. Safran manufactures aircraft engines, landing systems and aerospace components for commercial and defence aviation.
Deutsche Bank also lowered its target price for satellite telecommunications operator Eutelsat to 2.1 euros from 2.4 euros, after the shares closed at 1.769 euros. Eutelsat operates commercial communications satellites that provide television broadcasting, business data networks and broadband connections across Europe and international territories.
Revisions for Interparfums and FDJ United
In the luxury goods sector, Berenberg issued an upgrade for Interparfums by raising its price target to 40 euros from 35 euros, compared with a prior closing price of 34.36 euros. Interparfums designs, manufactures and distributes prestige fragrances and cosmetics through international licensing partnerships with major fashion brands.
By contrast, Goldman Sachs reduced its price target for gaming operator FDJ United to 19 euros from 21.6 euros, with the stock previously closing at 20.61 euros. FDJ United operates nationwide lottery games, sports betting services and online gaming activities across France.
