Safran: Oddo still a buyer

(CercleFinance.com) - Oddo BHF has reiterated its "outperform" rating on Safran shares, along with a target price of 131 euros , stating that it expects EBIT of 1,768 million euros and sales of 15.
3 billion euros, i.e. a margin of 11.5% (+130 bp).

Analysts model a 42% growth in civil after-sales in Q4, driven by the continued progress of CFM56 cycles, an anticipation of purchases before the November price hike and also restocking, they say.

However, the broker has once again reduced its 2022/23/24 EPS guidance by -1%/-3.7%/-4% respectively to take into account an additional lag in the rebound of the long-haul segment, with ongoing travel restrictions.


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