Safran: UBS downgrades stock

(CercleFinance.com) - UBS has downgraded Safran shares from "buy" to "neutral", emphasising that the share's price is getting closer to its target, which it maintains at E165, which represents upside potential of just 11% for the French aeronautical equipment manufacturer.


The broker adds that it prefers its German peer MTU Aero Engines (which it upgrades from "neutral" to "buy", despite reducing its target price from E230 to E205) "for sector exposure given the idiosyncratic opportunity opened up by the GTF issue".


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