Safran: UBS still on hold
(CercleFinance.com) - UBS reiterates its neutral rating on the Safran stock, with a target price of E165, before the group unveils its Q3 2023 results.
"Spare part inventory stocking by customers, given the off-cycle price increase announced for August this year vs November typically, is difficult to quantify", UBS says.
At the end of last month, the broker said that it preferred its German peer MTU Aero Engines (which it upgraded from "neutral" to "buy", despite lowering its target price for the stock from E230 to E205) for sector exposure, given the idiosyncratic opportunity opened up by the GTF issue.
Copyright (c) 2023 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.
"Spare part inventory stocking by customers, given the off-cycle price increase announced for August this year vs November typically, is difficult to quantify", UBS says.
At the end of last month, the broker said that it preferred its German peer MTU Aero Engines (which it upgraded from "neutral" to "buy", despite lowering its target price for the stock from E230 to E205) for sector exposure, given the idiosyncratic opportunity opened up by the GTF issue.
Copyright (c) 2023 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.