BAE Systems: Credit Suisse adjusts target price
(CercleFinance.com) - Credit Suisse reinstates its "outperform" rating on BAE Systems, while trimming its target price from 710 pence to 690 pence, following reduced 2020-22 EPS estimates (-10%, -3% and -1% respectively).
The broker believes that the impact of Covid-19 "should be felt essentially in 2020" for the British defence group, "an improved GBP/USD spot rate (moved from 1.30 to 1.25) offsetting the small cuts made to 2021e-2022e forecasts".
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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 broker believes that the impact of Covid-19 "should be felt essentially in 2020" for the British defence group, "an improved GBP/USD spot rate (moved from 1.30 to 1.25) offsetting the small cuts made to 2021e-2022e forecasts".
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.