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Safran: UBS still on hold
(CercleFinance.com) - UBS confirms its neutral recommendation on the share and its target price of E220, believing that Q2 guidance and results are uncertain.
This target price represents limited upside potential of 9%.
Overall, we are slightly positive on Safran's Q2 results, but we find the positioning difficult to assess, and our conviction is therefore low, UBS says.
Safran has confirmed its outlook for 2024 (on a LFL and adjusted basis) of sales of around E27.4bn, operating income before non-recurring items close to E4bn and FCF of around E3bn.
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 decision-making aids 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.
This target price represents limited upside potential of 9%.
Overall, we are slightly positive on Safran's Q2 results, but we find the positioning difficult to assess, and our conviction is therefore low, UBS says.
Safran has confirmed its outlook for 2024 (on a LFL and adjusted basis) of sales of around E27.4bn, operating income before non-recurring items close to E4bn and FCF of around E3bn.
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 decision-making aids 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.