Thales: UBS upgrades and raises TP

(CercleFinance.com) - UBS has upgraded its opinion on Thales to Neutral (from Sell) and raised its target price to E150 (from E125).


The challenges we have highlighted are increasingly well understood, and growth in the defense business is potentially underestimated, UBS says.

Thales has confirmed its targets for 2024, with a tighter range, targeting a book-to-bill ratio of over one, organic sales growth of between +5% and +6%, and an EBIT margin of 11.7% to 11.8%.


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