On Monday, Barclays raised its price target for Vinci from €111 to €113, while renewing its 'overweight' recommendation on the stock.

In a note dedicated to transport infrastructure, the analyst points out that he has been positive on airport-related businesses for some time now.

According to Barclays, these favorable factors should materialize in Vinci's 2022 annual results, leading the intermediary to target an operating profit 4% higher than the current analyst consensus.

Beyond the airport subsidiary, the professional says he expects "reassuring" profit margins in construction, with a less pronounced normalization of cash flow than some may fear.

This observation leads him to slightly raise his operating profit forecasts for the 2022-2024 period, but to reduce his EPS targets due to the rise in financing costs.

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