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Thales: Credit Suisse still on hold ahead of H1 results

( - This morning, a Credit Suisse analyst Credit Suisse confirmed a "neutral" rating on the Thales share, pending its H1 results.

"We expect H1 to reflect a material negative impact from COVID-19, due to 1/ persistent damage to civil aerospace-related businesses (avionics, IFE) and 2/ temporary decline in activity level and productivity in the lockdown phase. This should result in sales being down 12% (-19% in Q2), with EBIT falling 59% to EUR333m," the broker said.

Credit Suisse therefore confirms its target price of 78 euros for the share.

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