Safran: Oddo BHF upgrades stock
(CercleFinance.com) - Broker Oddo BHF has upgraded its rating on Safran from "neutral" to "buy," with a target price of 117 euros, adding that an amount of synergies in line with that generated by US players would add another 4.
2 euros to its target price.
The analyst monitoring the stock says that while both the major risks of execution (Leap and Zodiac) are now under control, the share is only trading in line with peers, while its visibility and resilience suggest that it should be trading at a significant premium (10%).
The broker's research team anticipates growth in free cash flow to exceed the consensus, with average growth of 17% p.a. over 2017-21, an acceleration that "opens the door to new cash returns to shareholders".
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
2 euros to its target price.
The analyst monitoring the stock says that while both the major risks of execution (Leap and Zodiac) are now under control, the share is only trading in line with peers, while its visibility and resilience suggest that it should be trading at a significant premium (10%).
The broker's research team anticipates growth in free cash flow to exceed the consensus, with average growth of 17% p.a. over 2017-21, an acceleration that "opens the door to new cash returns to shareholders".
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.