BAE Systems: Oddo raises target price
(CercleFinance.com) - Oddo maintains its "neutral" rating on BAE Systems shares, having increased its target price for them from 659p to 820p.
The broker said that BAE Systems did not report any deterioration in its supply chain and indicated that its contracts on long-term programs provided strong visibility to help manage production schedules.
The company announced that order intake for the beginning of the year was strong - although mainly from long-cycle programs (RAF Hawk fleet support, F-35 electronic warfare, 2nd batch of the amphibious combat vehicle program, etc.), Oddo adds.
All said, BAE Systems expects sales growth of between +2% and +4% in 2022 and Underlying EBIT and EPS to rise by between +4% and +6%.
Doesn't seem too much of the stock's day today, though - it is currently down almost 1%, while the market is up almost that in London.
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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.
The broker said that BAE Systems did not report any deterioration in its supply chain and indicated that its contracts on long-term programs provided strong visibility to help manage production schedules.
The company announced that order intake for the beginning of the year was strong - although mainly from long-cycle programs (RAF Hawk fleet support, F-35 electronic warfare, 2nd batch of the amphibious combat vehicle program, etc.), Oddo adds.
All said, BAE Systems expects sales growth of between +2% and +4% in 2022 and Underlying EBIT and EPS to rise by between +4% and +6%.
Doesn't seem too much of the stock's day today, though - it is currently down almost 1%, while the market is up almost that in London.
Copyright (c) 2022 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.