Capgemini price target lowered to EUR 170 from EUR 175 at Jefferies

Jefferies lowered the firm’s price target on Capgemini (CGEMY) to EUR 170 from EUR 175 and keeps a Hold rating on the shares. The company’s Q3 results were lower than expected but while directionally unsurprising, the main focus point is the lower Q4 exit rates and implications for fiscal 2025, the analyst tells investors in a research note. The firm says the debate for investors is how much of this is purely cyclical versus competitive intensity.