Thales: stock downgraded by UBS

(CercleFinance.com) - UBS downgrades its rating on Thales shares from "buy" to "neutral", despite increasing its target price for them from 123 euros to 135 euros, with the latter representing upside potential of 11% for the defense and transport electronics group's share.


"Thales benefits from macro trends in terms of geography and portfolio, but consensus appears to price this more efficiently than for BAE or Dassault", the broker summarises.


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