Analyst Charles Brennan of Jefferies maintained a Hold rating on Capgemini SE, retaining the price target of €115.00.
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Charles Brennan has given his Hold rating due to a combination of factors, including Capgemini’s solid but not spectacular growth versus its sector. The company posted stronger-than-expected organic revenue expansion in the first quarter and highlighted rising traction in areas such as artificial intelligence and defense, yet its growth premium versus peers remains modest in a generally sluggish IT services market.
Forward-looking indicators also appear steady rather than strongly accelerating, with bookings roughly in line with historical norms and a large deal already reflected in current numbers. Management kept full-year guidance unchanged, which points to slower organic growth later in the year as tougher comparisons and macroeconomic uncertainty weigh on demand, leading Brennan to see upside for the shares but limited scope for a meaningful re-rating, and thus to maintain a $115 price target and a Hold stance.