Augustin Cendre, an analyst from Stifel Nicolaus, reiterated the Buy rating on Aeroports de Paris ADP (0NP8 – Research Report). The associated price target was lowered to €135.00.
Augustin Cendre has given his Buy rating due to a combination of factors influencing Aeroports de Paris ADP’s performance. Despite recent underperformance in the stock market, the company is expected to rebound as the impact of regulatory agreements and associated capital expenditures (CapEx) have been exaggerated. The anticipated increase in CapEx is seen as a return to normalized levels rather than an unexpected burden, aligning with the company’s strategic focus on capacity expansion and efficient cash management.
Furthermore, the potential resumption of dividend distributions from international divisions, such as TAV and GMR, is expected to enhance cash flow. Although the French corporate tax increase poses a challenge, the company is positioned to navigate these headwinds with a focus on strategic management changes and political stability. The revised price target reflects these dynamics, with an expectation of gradual recovery and growth in the medium term.
In another report released on March 3, J.P. Morgan also maintained a Buy rating on the stock with a €130.00 price target.