BAE Systems: Oddo raises target price
(CercleFinance.com) - Oddo maintains its "neutral" rating on BAE Systems shares, having increased its target price for them from 659p to 820p.
The broker said that BAE Systems did not report any deterioration in its supply chain and indicated that its contracts on long-term programs provided strong visibility to help manage production schedules.
The company announced that order intake for the beginning of the year was strong - although mainly from long-cycle programs (RAF Hawk fleet support, F-35 electronic warfare, 2nd batch of the amphibious combat vehicle program, etc.), Oddo adds.
All said, BAE Systems expects sales growth of between +2% and +4% in 2022 and Underlying EBIT and EPS to rise by between +4% and +6%.
Doesn't seem too much of the stock's day today, though - it is currently down almost 1%, while the market is up almost that in London.
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