Safran: Oddo still neutral, cuts target price

(CercleFinance.com) - Oddo says that Safran's 2020 financial year was saved by it adjusting its cost base.


While the analyst is slightly raising his 2020 EBIT estimate from 1,663 million to 1,677 million euros, he is reducing his 2021 EBIT estimate by 10.6% to 2,038 million euros.

The analyst points out that the results publication, scheduled for 25 February, will enable the group's CEO to unveil the roadmap as well as certain targets.

In this context, and considering that the share's valuation remains "relatively high", Oddo maintains its "neutral" rating on the Safran share, and has reduced its target price from 128 euros to 120 euros.


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