Safran: Oddo BHF still on hold

(CercleFinance.com) - Oddo BHF maintains its 'neutral' rating on Safran shares, with an unchanged target price of E220.


The analyst expects Q3 sales to be in line with previous quarters, anticipating 13.7% growth to E6,621m.

We see Safran confirming its EBIT target "close to E4bn" (ODDO BHF: E4,142m, VA Css: E4,079m), as well as its 25% growth in the civil engine services business, Oddo BHF says.

However, the broker believes that the scale of the strike at Boeing poses a greater risk to the FCF target of E3bn (Oddo BHF: E2,852m, VA Css: E3,019m).


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