Hochtief climbs more than 8% in Frankfurt, boosted by an upgrade from 'hold' to 'buy' at Jefferies, with a price target raised from €109 to €124, in the wake of estimates raised from 3% to 11% for the German construction group.

We expect earnings growth to accelerate as Hochtief begins to benefit from greater exposure to high-tech infrastructure projects", explains the broker in the summary of its note.

Copyright (c) 2024 CercleFinance.com. All rights reserved.