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Thales: Credit Suisse sees over 20% upside potential

(CercleFinance.com) - Maintaining its buy rating ("outperform") on the Thales stock, Credit Suisse welcomes the results published by the French electronics and defence group.

The broker has raised its target price for the stock from 109 euros to 116 euros, which suggests upside potential of over 20%. The share features on the broker's "Focus List."

Analysts welcome a publication that exceeds expectations in many respects - particularly regarding cash generation, albeit with the exception of the group's dividend.

Admittedly, management's forecasts are considered as "robust" - Thales aims for organic sales growth of 4% to 5% in 2018, with operating profit up around 20%. However, Credit Suisse expects even more: operating income of 1.70 billion euros, above the group's target range of between 1.62 billion and 1.66 billion euros.

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