Safran: stock down as analyst cuts target price
(CercleFinance.com) - The Safran share is down over 2%, with Credit Suisse having cut its target price for it.
The analyst believes that 2020 results are broadly in line with the operating income and FCF forecasts.
"Sales and Recurring operating income (ROC) are 4% better than company-provided consensus, with a 10.2% margin. FCF is 1% ahead of consensus at E1,073m," the analyst says.
"The group's guidance came 10% below consensus for FCF and 13% below for recurring operating income ".
"We reduce our forecasts for revenues by 4%, ROC by -13% and FCF by -14% on average over 2021e-2024e," the analyst adds.
Having has set a target price of 97 euros per share (compared with 102 euros previously). Credit Suisse confirms its neutral rating on the stock.
Copyright (c) 2021 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 analyst believes that 2020 results are broadly in line with the operating income and FCF forecasts.
"Sales and Recurring operating income (ROC) are 4% better than company-provided consensus, with a 10.2% margin. FCF is 1% ahead of consensus at E1,073m," the analyst says.
"The group's guidance came 10% below consensus for FCF and 13% below for recurring operating income ".
"We reduce our forecasts for revenues by 4%, ROC by -13% and FCF by -14% on average over 2021e-2024e," the analyst adds.
Having has set a target price of 97 euros per share (compared with 102 euros previously). Credit Suisse confirms its neutral rating on the stock.
Copyright (c) 2021 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.