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Thales: Oddo BHF maintains its Outperform rating
(CercleFinance.com) - Oddo BHF reiterates its 'outperform' rating and E195 target price for Thales shares, believing that it will benefit from accelerating growth in defense thanks to the gradual disappearance of bottlenecks.
The broker also sees the CMD (14/11) as a catalyst that could highlight the extent of undervaluation in cyber, and hopes for a more shareholder-friendly capital allocation strategy from early 2025.
After the sharp correction that affected French stocks, Thales is trading at an 8% discount to its main European defense peers, whereas it has enjoyed a 7% premium on average since the beginning of 2022", adds the analyst.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
The broker also sees the CMD (14/11) as a catalyst that could highlight the extent of undervaluation in cyber, and hopes for a more shareholder-friendly capital allocation strategy from early 2025.
After the sharp correction that affected French stocks, Thales is trading at an 8% discount to its main European defense peers, whereas it has enjoyed a 7% premium on average since the beginning of 2022", adds the analyst.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.