Thales: Oddo raises target price
(CercleFinance.com) - Oddo upgraded its Neutral rating on the Thales share to Buy on 13 June following the group's publication of a reassuring outlook for Gemalto and the rest of the group.
The broke has also nudged up its corresponding target price from 126 euros to 130 euros.
Oddo says that its estimates are just above the FactSet consensus, with EPS that is between 1% and 4.9% above average over the next 3 years.
Beyond the visibility of its defense business, growth is real, with a 14% CAGR of 2018/22 EPS. Also, the group's CMD that will be held on 3 October will, in our opinion, be a positive catalyst for the share, Oddo says.
Compared to the 12-month rolling P/E of the index representing all aerospace & defense companies, the share is trading at a discount of 10% against a 5-year average of 1%, the broker adds.
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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 broke has also nudged up its corresponding target price from 126 euros to 130 euros.
Oddo says that its estimates are just above the FactSet consensus, with EPS that is between 1% and 4.9% above average over the next 3 years.
Beyond the visibility of its defense business, growth is real, with a 14% CAGR of 2018/22 EPS. Also, the group's CMD that will be held on 3 October will, in our opinion, be a positive catalyst for the share, Oddo says.
Compared to the 12-month rolling P/E of the index representing all aerospace & defense companies, the share is trading at a discount of 10% against a 5-year average of 1%, the broker adds.
Copyright (c) 2019 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.