Safran: Deutsche Bank raises its price target

(CercleFinance.com) - Deutsche Bank announced on Friday that it had raised its target price for Safran from ?190 to ?208, anticipating "solid momentum" in first-quarter sales.


While the aerospace equipment supplier will publish its quarterly sales figures on April 26, DB said it expected sales growth of 17%, with a positive contribution from all business lines.

The group should also confirm its full-year targets, says the research department, which anticipates encouraging comments on both the spare parts market and operating margin.

Deutsche - which remains at 'hold' - justifies its target increase by the increased contribution of GE Aerospace's higher valuation in the propulsion businesses.

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