Capgemini price target lowered to EUR 185 from EUR 195 at Jefferies

Jefferies lowered the firm’s price target on Capgemini to EUR 185 from EUR 195 and keeps a Hold rating on the shares. The firm, which says it has been “arguing for most of the year that consensus appeared too high,” contends that weaker than expected Q2 results “have acted as the catalyst for consensus to reset lower,” which de-risks the outlook, but also means that “valuation remains up with events.”