Stifel maintains its Buy rating on Eiffage shares, with an unchanged target price of 125 euros.

The analyst believes that Eiffage is well positioned to benefit from the European energy transition, with lower interest rates boosting the value of its concessions and the upturn in construction, which should improve its margins relative to its competitors.

Capital management in its concessions remains a key issue, but the revival of its defensive characteristics is seen as a short-term positive, helping the stock through the seasonally difficult months.

Vinci, however, looks even more attractive on this basis", notes Stifel, for whom Eiffage remains a promising stock in the longer term.

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