Thales: Credit Suisse now says sell
(CercleFinance.com) - This morning, Credit Suisse downgraded its Neutral rating on the French electronics and defense group, now recommending investors sell the share, with an "Underperform" rating.
Alongside this downgrade the broker has cut its corresponding target price from 108 euros to 89 euros (-18.3%).
According to analysts, the group's Q3 sales warning, made in the wake of its CMD, damages management's credibility in investors' eyes, and also raises questions about the group's future growth expectations and FCF trends. All these factors put an end to a multi-year track record of strong delivery vs. earnings guidance, Credit Suisse laments.
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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.
Alongside this downgrade the broker has cut its corresponding target price from 108 euros to 89 euros (-18.3%).
According to analysts, the group's Q3 sales warning, made in the wake of its CMD, damages management's credibility in investors' eyes, and also raises questions about the group's future growth expectations and FCF trends. All these factors put an end to a multi-year track record of strong delivery vs. earnings guidance, Credit Suisse laments.
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.