Bouygues is leading the CAC40 today, up over 3%, after quarterly results that were marked by current opearing income from businesses that is  "well above expectations", Oddo BHF says, which has raised its target price from €34 to €38.

Current operating income came in at €69m for Q1, compared with €26m a year ago and a consensus estimate of €35m, the broker says.

At nearly €12.6bn, the conglomerate's revenue increased by 2.2% (+0.9% in organic terms), driven by Colas, Bouygues Construction, and Bouygues Telecom, thanks to the first full quarter contribution from La Poste Telecom.

The stock should react well to the publication and especially to the very good FCF (-€79 million compared to -€301 million in Q1 2024) and the improvement in guidance, particularly at Equans, Oddo BHF said this morning.


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