Safran: Oddo cuts target price
(CercleFinance.com) - Broker Oddo has confirmed its buy rating on the Safran stock, although has reduced its corresponding target price from 135 euros to 132 euros.
Safran still enjoys high visibility thanks to its installed base and its mastery of the LEAP program, although it should be admitted that the company's EPS momentum and newsflow is expected to be less dynamic this year, Oddo says.
Analysts are expecting 2018 results to slightly exceed the guidance, with an EBIT of 2,938 million euros (a margin of 14%) including 2,655 million euros in Safran's historical scope (+21% vs. 2017 against a target of about 20% growth) and +34% by integrating the consolidation of Zodiac over 10 months.
In 2019, Oddo anticipates EBIT of 3,447 million euros (+17%) vs 3,438 million euros for the FactSet consensus, a margin of 14.9%, with a civil after-sales growth of 9.5% and the delivery of 1,943 Leap.
Copyright (c) 2019 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.
Safran still enjoys high visibility thanks to its installed base and its mastery of the LEAP program, although it should be admitted that the company's EPS momentum and newsflow is expected to be less dynamic this year, Oddo says.
Analysts are expecting 2018 results to slightly exceed the guidance, with an EBIT of 2,938 million euros (a margin of 14%) including 2,655 million euros in Safran's historical scope (+21% vs. 2017 against a target of about 20% growth) and +34% by integrating the consolidation of Zodiac over 10 months.
In 2019, Oddo anticipates EBIT of 3,447 million euros (+17%) vs 3,438 million euros for the FactSet consensus, a margin of 14.9%, with a civil after-sales growth of 9.5% and the delivery of 1,943 Leap.
Copyright (c) 2019 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.