MS ups SPIE to 'overweight' on attractive valuation, 'tighter energy market'

Spie SA

08/04/2026 12:00

** Morgan Stanley raises French multi-technical services group SPIE SPIE.PA to "overweight" from "equal-weight" citing an attractive valuation and expecting the company to benefit from a tighter energy market

** The broker says a "tighter energy market" acts as a dual tailwind by driving faster electrification in Europe and boosting investments in the firm's oil and gas division

** MS adds that company's organic growth is poised for further acceleration supported by incoming German fiscal stimulus and a re-acceleration in midsize corporate acquisitions

** The brokerage believes investors will "look through the short-term pain" of weak Q1 organic growth caused by adverse weather given the firm's labour flexibility

** Morgan Stanley leaves its PT unchanged at EUR 51/shr seeing an attractive valuation following a recent pullback that left shares trading at an appealing level

** Among the 11 analysts covering SPIE, ten rate the stock "strong buy" or "buy" and ​one analyst rates "hold" - LSEG data

 (Reporting by Clement Martinot)

 ((Clement.Martinot@thomsonreuters.com;))