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Teleperformance (NR/BBB) Spreads Up To 5bps Tighter As Equity Rallies On Q1 Rev

TECHNOLOGY


  • Large equity move coming on the back of their +0.9% revenue growth; noting equity analyst comments implying expectations of negative growth but only seeing small number of BBG consensus estimates as flagged yesterday.
  • FY24 guidance confirmed; expect improved growth in H2 on more favourable comparison basis and newly signed business (FY target is 2-4% pro-forma growth).
  • EUR spreads 3-5bps tighter in early trading.

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