Oddo BHF maintains its 'outperform' rating on Getlink shares, with an unchanged target price of 20 euros.

Following an analysts' luncheon, Oddo BHF reports that external trends/factors remain 'broadly unchanged' and that the group still confirms its forecast for a transitional year 2024.

The broker believes that the UK elections next July could bring about changes: Labour wants to simplify procedures on fresh produce in the short term, or even renegotiate trade agreements with the EU in the longer term.

According to Oddo BHF, this proposal, 'as surprising as it is unexpected', could require several years of negotiation... The broker points out that Getlink's traffic is still well below pre-Brexit 2019 levels.

'No one knows when Eiffage will make the choice to cross the Rubicon, but investors are not fooled. Spie and renewable energies can wait, the chosen one is Getlink ...' concludes the research department.


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