Thales: Oddo still on hold
(CercleFinance.com) - Oddo maintains its Neutral rating on Thales shares, along with its target price of 134 euros.
While Thales has published "solid" 2022 results (EBIT of E1,935m on sales of E17,569, up 5.5%), Oddo regrets the somewhat disappointing forecasts for FY 2023.
Above all, the analyst notes that Thales ended 2022 with an order intake of E23,551m, with 13 contracts worth over E100m signed in Q4 alone. Visibility is therefore particularly good, with an order backlog of E41bn, which is equivalent to about 28 months of sales.
At first glance, analysts only see potential for a marginal increase in FY2023 EPS estimates, mainly thanks to a higher net cash position.
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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.
While Thales has published "solid" 2022 results (EBIT of E1,935m on sales of E17,569, up 5.5%), Oddo regrets the somewhat disappointing forecasts for FY 2023.
Above all, the analyst notes that Thales ended 2022 with an order intake of E23,551m, with 13 contracts worth over E100m signed in Q4 alone. Visibility is therefore particularly good, with an order backlog of E41bn, which is equivalent to about 28 months of sales.
At first glance, analysts only see potential for a marginal increase in FY2023 EPS estimates, mainly thanks to a higher net cash position.
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.