Capgemini is down nearly 1% in Paris, as Oddo BHF
confirmed its 'outperform' opinion on the stock this morning, with a price target lowered from 230 to 224 euros, after the IT group's first-half publication was described as 'mixed, but not dramatic'.

Following this publication, the research firm has revised its organic growth forecast for 2023 to 4.8% (from 5.8% previously), in the middle of its guidance range, but is maintaining its profitability forecasts unchanged.

Oddo BHF also points to a lower EV/EBITA valuation ratio than its global peers, prompting it to remain Outperform 'although the stock may lack momentum before a possible acceleration in growth in the first half of 2024'.

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