Safran: Oddo BHF, still a buyer; appreciates visibility
(CercleFinance.com) - An analyst at Oddo BHF today says that he is maintaining his “buy” recommendation on the Safran stock, along with a target price of 136 euros.
The share enjoys high visibility, thanks to its optimal CFM56 installed base, its proven expertise in the Leap program and the integration of Zodiac, the broker appreciates. In his note, he also talks about one of the major issues that is facing the group, i.e. the recruitment of about 45,000 people over the next 5 years, which represents almost half of the group's existing workforce.
While the risk of maintaining skills is real, the broker believes that past performance in this area bodes well for the group. On the other hand, such movements open up real opportunities, with limited risks (which Oddo estimates at around 100 million euros) and in a more aggressive scenario, a geographical allocation of recruitment that would tend towards zones of strong growth (where average wages are less than those in Europe).
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.
The share enjoys high visibility, thanks to its optimal CFM56 installed base, its proven expertise in the Leap program and the integration of Zodiac, the broker appreciates. In his note, he also talks about one of the major issues that is facing the group, i.e. the recruitment of about 45,000 people over the next 5 years, which represents almost half of the group's existing workforce.
While the risk of maintaining skills is real, the broker believes that past performance in this area bodes well for the group. On the other hand, such movements open up real opportunities, with limited risks (which Oddo estimates at around 100 million euros) and in a more aggressive scenario, a geographical allocation of recruitment that would tend towards zones of strong growth (where average wages are less than those in Europe).
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.