Update shared on 06 Nov 2025
Bouygues' average analyst price target has shifted in a mixed manner, reflecting both moderate reductions such as Barclays’ move from €39.50 to €39 and notable increases like JPMorgan’s raised target of €56. Analysts are weighing improved outlooks amid rebased company guidance and limited downside risks.
Analyst Commentary
Recent analyst reports on Bouygues reflect a range of views on the company's valuation, risk factors, and potential growth avenues. The following summarizes the most prominent points raised by both bullish and bearish analysts.
Bullish Takeaways- Bullish analysts highlight upward adjustments to price targets, with the most notable increase bringing the target to EUR 56. This signals expectations of further share price appreciation.
- Improved company guidance and the removal of overhangs, such as the decision not to exercise certain call options, have contributed to increased confidence in execution and have reduced perceived risks.
- Valuation is now viewed as more attractive, with limited downside risk cited at current levels. This suggests a solid floor for the share price.
- Upgrades in ratings from major firms indicate a perception that Bouygues is better positioned for future growth compared to previous assessments.
- Bearish analysts have implemented moderate reductions in price targets. This reflects some caution regarding near-term upside.
- Despite positive revisions in company guidance, there is lingering uncertainty about the pace and sustainability of Bouygues’ growth trajectory.
- Cautious perspectives persist around execution, emphasizing the need for Bouygues to meet heightened expectations to justify its recent re-rating.
- Some uncertainty remains around external factors and broader market conditions. These could impact valuation going forward.
What's in the News
- Bouygues SA confirmed its guidance for 2025 and is now targeting a slight increase in current operating profit from activities compared to 2024. (Key Developments)
- The group expects sales in 2025 to be slightly higher than in 2024 at constant exchange rates. However, it notes that published sales may remain roughly flat due to currency fluctuations, particularly with the US dollar. (Key Developments)
- This update refines previous guidance, which had also targeted slight increases in both sales and profit. (Key Developments)
Valuation Changes
- Fair Value: Unchanged at €43.65, reflecting analyst consensus stability in intrinsic valuation.
- Discount Rate: Increased slightly from 10.24% to 10.50%, suggesting a modest rise in perceived risk or required return.
- Revenue Growth: Declined marginally from 0.99% to 0.98%, indicating a minor downward revision in sales expansion expectations.
- Net Profit Margin: Decreased slightly from 2.33% to 2.32%, implying little change to margin outlook.
- Future P/E: Increased modestly from 16.82x to 16.97x, signifying a slight uptrend in valuation multiples for projected earnings.
Disclaimer
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