Safran: penalised by a broker downgrade
(CercleFinance.com) - The Safran stock is down 1.
1% today, suffering from the broker Jefferies downgrading the stock from "hold" to "underperform," despite raising its corresponding target price for the high-tech group from 75 euros to 95 euros.
After strong interim results and an increased full-year 2018 target for operating profit, the broker has reset its approach, following the forecast for operating profit.
"We took what we believe to be the key financial dynamics and embedded them in our FY19 and FY20 forecasts," says the broker. "The outcome could, we concede, point to a gold-plated equity story."
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.
1% today, suffering from the broker Jefferies downgrading the stock from "hold" to "underperform," despite raising its corresponding target price for the high-tech group from 75 euros to 95 euros.
After strong interim results and an increased full-year 2018 target for operating profit, the broker has reset its approach, following the forecast for operating profit.
"We took what we believe to be the key financial dynamics and embedded them in our FY19 and FY20 forecasts," says the broker. "The outcome could, we concede, point to a gold-plated equity story."
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.