Safran: Deutsche Bank nudges up TP
(CercleFinance.com) - Deutsche Bank maintains its 'hold' rating on Safran shares, adding a euro of its E210 TP to E211 (cp: E204, +1%), ahead of the aircraft engine and equipment manufacturer's H1 results, due out on 31 July.
The broker forecasts sales growth of 17%, EBIT growth of 36% and FCF of E1.45bn for the period, while it expects FY 2024 forecasts to be at least reconfirmed.
However, the broker warns that current forecasts for Leap deliveries that are up 10%-15% could be reduced, while after-market growth, currently guided at 'around 20%', could be raised.
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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 forecasts sales growth of 17%, EBIT growth of 36% and FCF of E1.45bn for the period, while it expects FY 2024 forecasts to be at least reconfirmed.
However, the broker warns that current forecasts for Leap deliveries that are up 10%-15% could be reduced, while after-market growth, currently guided at 'around 20%', could be raised.
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.