UBS reaffirms its 'buy' recommendation on Spie and raises its target price from €33 to €35, a new target that offers a 28% upside potential for the French multi-technical services group's shares.

In the summary of its note, the broker explains that it is raising its adjusted EBITA forecasts, 'as data and management comments support a resilient and higher growth trajectory in the second half of 2023 and beyond'.

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