(News Bulletin 247) – Berenberg raised its price target on Dassault Aviation on Wednesday, raised from 185 to 190 euros, while reiterating its recommendation to ‘hold’ on the stock.
In a note published in the morning, the analyst said he remained positive about the prospects for the Rafale, which he said remains the heart of the aircraft manufacturer’s investment file.
Berenberg explains that he is considering new commercial opportunities for the combat aircraft, starting with Colombia and India, not to mention the signing of a new firm order from Indonesia.
Conversely, according to him, a certain number of risks surround the activity of business jets, the normalization of which against a backdrop of market weakness could weigh on the share price in the short term.
The intermediary recalls that the Dassault action has risen 16% since the start of the year, against a gain of 23% for the European defense sector, posting an enterprise value/EBITDA ratio of 8.3x.
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