Safran: Berenberg raises TP

(CercleFinance.com) - On Monday, Berenberg raised its target price for Safran shares from E175 to E235, while renewing its buy recommendation on the stock.


The broker describes the 19.1% organic growth achieved by the aerospace equipment supplier over Q1 as "impressive".

However, it cannot help pointing out that the group's costs have risen as a result, the dynamism of the business being necessarily associated with the related expenses in accordance with IFRS principles, an element which it nonetheless considers to bode well for the development of profit margins.

However, after the share price's surge before this publication, the analyst now sees more potential in stocks such as MTU, Honeywell and Montana Aerospace.


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