Safran: Oddo BHF downgrades stock

(CercleFinance.com) - Oddo BHF has downgraded its recommendation on Safran from 'outperform' to 'neutral', despite raising its target price from E215 to E220, prefering its British peer Rolls-Royce in the engine-making universe.


Safran is the most qualitative stock in our coverage universe, and we don't see any clouds on the horizon", acknowledges the broker, which is raising its 2024 EPS estimate for the aircraft equipment maker by 1.1%.

Nevertheless, it believes that investors seem to have already priced in an upward revision of the 2024 guidance, and that momentum will dry up until the Investor Day scheduled for 5 December.


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