Oddo BHF has reiterated its 'outperform' opinion and its price target of 32 euros on Spie, a stock included in its Midcap Recommended List, following the announcement of the acquisition of Robur Industry in Germany.

The research firm sees this transaction as an 'excellent opportunity to accelerate growth', noting that it should be accretive 'in the mid-single-digit range' on the multi-technical services group's EPS from 2024.

With this acquisition, all the external growth operations carried out in 2023 represent cumulative sales of around €640 million, or 8% of 2022 sales, which testifies to the group's ability to accelerate its growth via bolt-on acquisitions," he judges.

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