Thales: Oddo still a buyer, cuts target price
(CercleFinance.com) - Oddo BHF reiterates its "buy" rating on the Thales share, while cutting its correponding target price from 92 euros to 87 euros (34% upside potential), in the wake of an adjustment of its EPS sequence, which it has increased by 7.
6% for 2020 and reduced by 6.9% and 6.4% respectively for 2021 and 2022.
The broker the stock is currently trading at very attractive multiples, which on a 2021 basis (which it says will be the first year when things get back to normal, other than for civil aviation), points to an EV/EBIT multiple of 9.8x, a P/E of 10.8x and an FCF yield of 7.7%.
The broker adds a 2021-24 CAGR of 12% for its EPS and 16,5% in its FCF yield, which for the high-tech group anticipates strong growth in new orders over the coming months.
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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.
6% for 2020 and reduced by 6.9% and 6.4% respectively for 2021 and 2022.
The broker the stock is currently trading at very attractive multiples, which on a 2021 basis (which it says will be the first year when things get back to normal, other than for civil aviation), points to an EV/EBIT multiple of 9.8x, a P/E of 10.8x and an FCF yield of 7.7%.
The broker adds a 2021-24 CAGR of 12% for its EPS and 16,5% in its FCF yield, which for the high-tech group anticipates strong growth in new orders over the coming months.
Copyright (c) 2020 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.