Getlink shares rose on the Paris Bourse on Monday, with Goldman Sachs upgrading its recommendation to "buy".

At 12.15pm, shares in the Channel Tunnel operator were up 2.7%, the biggest gain on an SBF 120 index down 0.1% at the same time.

In a note published this morning, analysts at Goldman Sachs acknowledged that the Group's traffic had deteriorated recently, but said they expected the downturn to slow in the coming months.

The business could also benefit from a forthcoming warming of trade relations between the UK and the European Union and/or an improvement in the UK economy, say the US bank's analysts.

The Eurotunnel operator, which competes with more carbon-intensive rivals, could also eventually benefit from the fact that airlines and ferries will have to pay for their CO2 in Europe from 2024, concludes Goldman Sachs, whose 12-month price target stands at 20 euros.

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