JPMorgan analyst Akhil Dattani downgraded Bouygues (BOUYF) to Neutral from Overweight with a price target of EUR 37, down from EUR 44.50. The firm adjusted ratings in the European telecoms space as part of its 2025 outlook. Its top picks for 2025 “remain skewed toward the high-quality compounders.” The analyst advocates a barbell approach, using value names to play potential regulatory or structural change.
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