ADP Stock Rebounds 2.71% Despite Morgan Stanley's Lowered Target
The Parisian airport manager's stock moves forward at the opening in a well-oriented Parisian market. Morgan Stanley lowered its price target on Monday, while maintaining a positive outlook. This move comes a week after a post-quarterly drop.
Morgan Stanley Maintains Confidence Despite Revised Target
ADP gained 2.71% to €106.30 at the opening, up from €103.50 the previous day. On Monday, May 4, Morgan Stanley reduced its price target from €134 to €130, while reaffirming its overweight rating. The new target represents a gap of about 22% from the current price. The broker thus maintains a constructive view on the stock, after the late April downturn that saw the stock fall below €100 following a 0.9% decline in Q1 revenue. The rebound is part of an overall bullish session in Paris, with the CAC 40 up 1.44%. On March 13, during the release of the 2025 accounts, the group announced a guidance for current EBITDA above €2,350 million for 2026, with traffic expected to grow between 1.5% and 2.5%. Investments of €1,450 million and a dividend policy set at 60% of net income (with a minimum of €3.00 per share) complete the financial framework.
The Stock Recovers Part of Its Post-Q1 Slump
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At €106.30, ADP's stock remains below its reference moving averages: the MM50 is at €109.36 and the MM200 at €114.36. The day's rebound is not enough to reach these thresholds. The RSI at 39 is gradually moving out of the low zone reached at the end of April, without yet signaling a trend reversal. Over three months, the stock has lost 7%, and 6.59% over a year. The technical support identified at €100.80 held last week after the stock dipped below €100 intraday. The next event on the calendar is the 2026 general assembly, scheduled for Thursday, May 21, 2026.
SectorConstruction et infrastructures›Infrastructures
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Context
Period
Period: 9M 2026
Key reported figures
Revenue: 5 106 millions d'euros
Quarterly revenue: 5 106 millions d'euros
Revenue growth: 1,4 %
Guidance from the release
Whilst taking these measures into account, Groupe ADP is monitoring the latest traffic forecasts and the prolonged nature of the tensions in the Middle East
Risks mentioned
Disruptions to the operating environment related to the conflict in the Middle East, particularly affecting international traffic flows
Traffic continues to be adversely affected by reduction in IndiGo's flight schedules and airlines facing rising fuel prices
Works taking place at Paris-Orly airport leading to reduction in flight schedules and limited transfers to Paris-Charles de Gaulle
Opportunities identified
Extension of Tbilisi airport concession period to 31 December 2031 with USD150 million investment planned
GMR Airports commences operations at Nagpur and Bhogapuram airports with significant capacity for future growth
Opening of two new P/S private terminals in Dallas-Fort Worth and Miami to expand private aviation services
Outlook / guidance
Expected EBITDA: 2 300 millions d'euros
Management commentary: « compte tenu d'un environnement opérationnel toujours difficile, le Groupe anticipe un EBITDA courant pour 2026 dans le bas de la fourchette de 2 300 à 2 350 millions d'euros »
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
