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BNP Paribas Exane downgrades Hochtief stock rating while raising price target

BNP Paribas Exane has downgraded Hochtief AG's stock rating from Outperform to Neutral, while raising the price target from EUR139.00 to EUR163.00, citing the stock's significant appreciation over the past year. Despite praising the company's strategic direction, analysts suggest taking profits due to limited near-term upside potential. Hochtief's stock has risen approximately 50% in the last 12 months and 20% year-to-date, prompting a more cautious investment outlook.
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