Safran: RBC initiates with buy and E240 TP
(CercleFinance.com) - RBC has begun to monitor Safran shares on Thursday with an "outperform" rating and a target price of E240, expressing confidence in the outlook for the aerospace equipment supplier.
The Canadian broker underpins its optimism with the strength of the group's after-sales business, the favourable profitability momentum of its Leap engine joint venture, and the steady turnaround of its aircraft interiors businesses.
The broker also anticipates a number of other favourable catalysts, including the CFM56 engine, portfolio adjustments (acquisitions or the sale of cabin furnishings), the redistribution of capital and the next investor meeting, which it believes could bring good news in December.
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