Safran: Oddo still a buyer, cuts target price
(CercleFinance.com) - Oddo maintains its "outperform" rating on Safran shares, although has shaved one from its target price from 138 euros to 137 euros.
With Safran set to publish its quarterly results on 29 October, Oddo already expects Q3 sales to reach 3,786 million euros, representing organic growth of 12.9%, while confirming sequential growth (compared to Q2) for all divisions.
However, in order to meet the FactSet consensus expectations for 2021, Safran will have to achieve a 14% increase in Q4 compared to Q4 2020.
The analyst says that this jump seems "too big" and Oddo therefore prefers to trim its 2021 revenue estimate by 0.9% (same reduction for the EPS estimate) and is now 1.6% below the consensus.
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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.
With Safran set to publish its quarterly results on 29 October, Oddo already expects Q3 sales to reach 3,786 million euros, representing organic growth of 12.9%, while confirming sequential growth (compared to Q2) for all divisions.
However, in order to meet the FactSet consensus expectations for 2021, Safran will have to achieve a 14% increase in Q4 compared to Q4 2020.
The analyst says that this jump seems "too big" and Oddo therefore prefers to trim its 2021 revenue estimate by 0.9% (same reduction for the EPS estimate) and is now 1.6% below the consensus.
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.