Thales: Oddo confirms its recommendation on the share

(CercleFinance.com) - Oddo maintains its 'outperform' rating on the Thales share, with an unchanged price target of 102 euros, while yesterday Australia disclosed it was opting to acquire nuclear submarines from the United States and the United Kingdom.


This announcement represents a major setback for Naval Group (of which Thales holds 35%) which had, in 2016, signed a 56-billion-euro contract for the entire lifespan, for the supply of 12 standard submarines.

Oddo underlines that at this stage, only the first phase of the contract had effectively been signed, hence Canberra's decision, demonstrating Thales' inability to make its lobbying work despite its strong presence in the country.

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