Dassault Aviation: Oddo upgrades rating

(CercleFinance.com) - Oddo has upgraded its rating on the Dassault Aviation from Neutral to Buy.


However, its different valuation methods result in an unchanged target price of 1,800 euros.

While Dassault Aviation benefits from the revival of the business jet market, we believe that the market is not valuing this business, or even give it a negative value, the broker says in its daily equity review.

Analysts expect the market to grow by 5% per year (deliveries) to 7% per year (in value terms), with this recovery confirmed by equipment manufacturers in the sector.

The broker expects EBIT of 552 million euros in 2020, followed by 526 million euros in 2021 (decline in Rafale export sales) after 348 million euros in 2017.



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