Stifel upbeat on French contractors despite future budget impact
** Broker Stifel Europe is optimistic on French construction sector despite financial impact of corporate tax hike
** "We expect Civil Engineering and Energy Services to be supported by the strong order books and the ongoing energy transition," it says
** Broker cites Eiffage FOUG.PA as top pick on strong order book in infrastructure and energy and higher exposure to strong real estate sector
** New French PM Barnier confirmed upcoming temporary tax hike for bigger companies
** Solutions include increase of corporation tax from 25% to 30% for companies with revenues between 1-3 bln euros, and to 35% for companies with revenues less than 3 bln euros, Stifel says
** Broker estimates this would imply an impact of 800 million euros for Vinci SGEF.PA, 253 million euros for Eiffage, 228 million euros for Bouygues BOUY.PA and 31 million euros for SPIE SPIE.PA
Reporting by Leo Marchandon
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