Safran: Credit Suisse still 'Neutral' - cuts TP

(CercleFinance.com) - Credit Suisse maintains its "neutral" recommendation on Safran shares and has reduced its corresponding target price to 102 euros, against 106 euros previously (current price: 114 euros).


Although the broker leaves its 2020 EPS estimate unchanged for the group, it has reduced its forecasts for 2021 to 2024 by -17%, -6%, -4% and -3% respectively.

Indeed, "without a significant increase in sales of original equipment and recovery in the aftermarket, our previous 2021 estimates were clearly ambitious, with spillover effects on the following years", the broker says.



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