Safran: closes higher, DB confirms its recommendation
(CercleFinance.com) - The Safran share closed up nearly 1.
4% after a positive analysis by Deutsche Bank.
The analyst reaffirms his 'hold' recommendation on Safran, with an adjusted price target of 210 to 211 euros, ahead of the aircraft engine and equipment manufacturer's first-half results, due on July 31.
The broker forecasts sales growth of 17%, EBIT growth of 36% and FCF of €1.45 billion for this period, while forecasts for fiscal 2024 should at least be reconfirmed.
He warns, however, that current forecasts for Leap deliveries up 10-15% could be revised downwards, while after-market growth, currently guided at 'around 20%', could be pushed higher.
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