Stifel has upgraded its recommendation on OVH from 'hold' to 'buy', with a price target raised from seven to 11.5 euros, as 'announcements at the recent investor meeting have increased visibility on EBIT margin expansion and FCF over the next three years'.

Short-term momentum is positive, thanks to a favorable basis for comparison", adds the broker, for whom the group's forthcoming earnings publications have the potential to support a revaluation.

Stifel is convinced that OVH's share price should rise significantly to €25 per share within four years, offering investors an average annual return of around 30%.

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