Oddo BHF has reaffirmed its 'outperform' rating on Spie and raised its target price from 38 to 40.5 euros, ahead of the release of first-quarter sales on April 25, for which it expects growth of +7.6%, including +4.3% on a comparable basis.

In the end, this publication should confirm the continuation of relatively sustained growth and good visibility for the year as a whole, given the trends linked to the energy transition in Europe (sales and margins)", the analyst believes.

After a year 2023 rich in external growth operations, the beginning of the year has been dynamic (256 million euros in sales acquired) and we understand that the M&A pipeline remains dense", he continues.

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