BOUYGUES : Stifel initiates neutral coverage
'The stock could potentially benefit from a turning point in the rates cycle. In the longer term, however, the group will need a significant reorganization of its structure and a cultural renewal', believes the broker.
Stifel considers Bouygues to be well valued, but believes that 'margin improvements, as well as a removal of its holding and strategy discounts could potentially unlock some additional value at a later stage'.
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