(News Bulletin 247) – JPMorgan on Monday raised its recommendation on Thales shares from ‘neutral’ to ‘overweight’ with a price target maintained at 160 euros.
The research office – which had downgraded its advice on the title last November – estimates that after an underperformance of around 10% compared to the rest of the sector since the beginning of the year, the title is become ‘more attractive’ again.
In a note devoted to European defense players, also underlines that the project to increase the budget of the French Army announced last January by President Macron (+7% annual forecast on average over the period 2024-2030) gives Thales ‘unprecedented’ visibility on its long-term growth.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
