Safran: Berenberg downgrades to 'hold'
(CercleFinance.com) - On Tuesday Berenberg has downgraded its rating on the Safran share to "hold," against "buy," having cut its corresponding target price to 115 euros, against 150 euros previously.
In a report on European aeronautical equipment manufacturers, the German broker says it is extremely concerned about the extent and speed of the deterioration in global air transport.
"COVID-19 will present significantly more of a challenge to aviation than any previous demand shock," the broker says.
Berenberg points out that with other subcontractors, such as Meggitt and MTU Aero Engines, Safran is today one of the players in the spare parts market that is the most exposed to the aviation sector.
Copyright (c) 2020 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.
In a report on European aeronautical equipment manufacturers, the German broker says it is extremely concerned about the extent and speed of the deterioration in global air transport.
"COVID-19 will present significantly more of a challenge to aviation than any previous demand shock," the broker says.
Berenberg points out that with other subcontractors, such as Meggitt and MTU Aero Engines, Safran is today one of the players in the spare parts market that is the most exposed to the aviation sector.
Copyright (c) 2020 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.