(News Bulletin 247) – Oddo remains Neutral and retains its price target of 134E on the Thales share.
If Thales has published ‘solid’ results for 2022 (EBIT amounts to 1,935 ME for a turnover of 17,569 ME, up 5.5%), Oddo regrets forecasts for the 2023 financial year ‘somewhat disappointing’.
Above all, notes the analyst, Thales ended the year 2022 with an order intake of 23,551 million euros with 13 contracts of more than 100 million euros signed during the fourth quarter alone. ‘The visibility is therefore particularly good with an order book of 41 billion euros, which is equivalent to approximately 28 months of sales’.
“At first glance, we only see the potential for a marginal upward revision to EPS estimates for FY2023, primarily due to a higher net cash position,” the analyst continues.
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