Safran: Jefferies upgrades stock

(CercleFinance.com) - Jefferies has upgraded Safran shares from 'hold' to 'buy', with a target price raised from E230 to E260, following last December's 2024 CMD and the share's devaluation in recent months.


The broker explains that it has raised its position on the basis of vigorous EPS growth (+21% p.a. on average over 2023-28), which it believes justifies a higher multiple than the one it had previously taken into account.

Conservative CFM56 revenue and currency assumptions mean that we are comfortable with being well above guidance for 2028 (E7.1bn vs. E6.0bn-E6.5bn), Jefferies adds.


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