Capgemini: Q3 13 sales slightly below ests. due to fx, FY13 guidance reiterated

BUY, Fair Value EUR54 (+17%)

News published on November Thursday 7, 2013
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This morning Capgemini reported Q3 13 sales 2% below our ests. and the consensus average, due to fx headwinds - especially on BRL in Brazil and AUD in Australia. Management reiterated FY13 guidance (lfl revenue growth of c. 1% and an operating margin of at least 8.4%). We expect the share price to react pretty positively on the back of this release.


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