Safran: Oddo still a buyer, but trims TP
(CercleFinance.com) - Oddo BHF reiterates its "outperform" rating on Safran shares, despite cutting its target price for them from 137 euros to 131 euros, the day after the high-tech group held a CMD that the broker described as reassuring.
Although inflationary pressure and the dilution of the Leap OE seem stronger than expected in the near term, Safran's positioning remains solid and there is an increasing number of signs of things getting back to normal, the analyst said.
The broker also points to the strong visibility offered by the installed base of 23,000 CFM56 2Gen engines, with the group due to report uninterrupted growth over the medium term (beyond 2025).
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