05:48 AM EDT, 07/20/2026 (MT Newswires) -- BofA Global Research anticipates improved organic sales growth for JCDecaux (DEC.PA) heading into the second half and ahead of the outdoor advertising company's second-quarter results due July 30. "We expect results to display accelerating organic sales growth into 2H, operating leverage and [free cash flow] improvement. While the macro situation remains fluid in the Middle East, the worst seems now behind. We raise our [price objective] from EUR23 to EUR26 as we roll forward our DCF and raise our target multiple to 8x 2026E EV/EBITDA from 7x, given stronger growth momentum expected in 2H26. Shares have rallied of late, so investor expectations appear elevated near term, but valuation still looks attractive on 7x 2026E EV/EBITDA versus ~11x pre COVID," according to a July 17 earnings preview note. While JCDecaux guided for a 3% organic sales growth for the second quarter, the research firm forecasts a "modest" beat at 3.5%, followed by an acceleration to 5.6% in the third quarter. Analysts expect the second-half momentum to be driven by "easier" comparatives, further sequential recovery in the Middle East, as well as new contract wins. BofA still rates the stock at buy.

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