Thales: Deutsche Bank raises target price
(CercleFinance.com) - Deutsche Bank raised its TP for Thales shares from E179 to E182 on Friday, citing the 'constructive' speech delivered at the company's last investor day.
DB, which maintains its buy recommendation on the stock, believes that the event was an opportunity to endorse the company's improved profile over the last five years, with enhanced visibility and leadership status acquired in the fields of cybersecurity and AI.
Regarding the disappointing performance of its space business, Deutsche Bank considers its impact 'limited', preferring to focus on the prospect of further improvement in the FCF conversion rate.
After four consecutive years of growth in the defense businesses, the analyst expects the Group to generate average annual sales growth of 6% to 7% in the field over 2024-2028, then a further 6% or 7% p.a. over the following decade, from 2030 onwards.
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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.
DB, which maintains its buy recommendation on the stock, believes that the event was an opportunity to endorse the company's improved profile over the last five years, with enhanced visibility and leadership status acquired in the fields of cybersecurity and AI.
Regarding the disappointing performance of its space business, Deutsche Bank considers its impact 'limited', preferring to focus on the prospect of further improvement in the FCF conversion rate.
After four consecutive years of growth in the defense businesses, the analyst expects the Group to generate average annual sales growth of 6% to 7% in the field over 2024-2028, then a further 6% or 7% p.a. over the following decade, from 2030 onwards.
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.