Thales: Oddo BHF confirms its TP

(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on Thales shares, with an unchanged target price of E193, as the European Commission yesterday officially signed the 12-year concession contract launching the IRIS² secure communications satellite constellation program with the SpaceRISE consortium (comprising operators SES, Eutelsat and Hispasat).


The budget for the period 2024-36 is currently estimated at 10.6 billion euros, of which E6bn will be provided by the EU.

This aims to commission the satellite at the end of 2030-beginning of 2031, which means that the first satellites will have to be launched around 2 years earlier, the analyst reports.

Oddo BHF considers IRIS² to be excellent news for satellite manufacturers and in particular for Thales Alenia Space (TAS), and believes that the newsflow should be driven by dynamic order intake, transparency in Cyber and space (contract and potential consolidation).


Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.