The analyst believes that the profit trajectory is higher. It confirms its buy recommendation on the stock and raises its target price to E40 (from E37), which represents a potential upside of 22%.

' We are raising our UBSe adj. EPS forecast by +4-5% and our price target to E40. Solid results point to a higher earnings trajectory ahead. Spie is a reference in the sector' says UBS.

For 2024, Spie expects in particular continued organic growth (at a lower rate than in 2023) and EBITA margin improvement.

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