Safran: stock rises on broker upgrade
(CercleFinance.com) - The Safran share is 1% on Friday morning, boosted by comments made by Berenberg, which has upgraded its rating on the stock from "hold" to "buy," while boosting its corresponding target price from 98 euros to 140 euros, underlining the hope of a potentially rapid improvement in air traffic from the second half of 2021.
"Safran is a clear play on the vaccine-led recovery that ultimately should result in a multi-year earnings up-cycle," the broker says, which also points out the group's longer-term growth prospects.
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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.
"Safran is a clear play on the vaccine-led recovery that ultimately should result in a multi-year earnings up-cycle," the broker says, which also points out the group's longer-term growth prospects.
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.