(News Bulletin 247) – Jefferies confirms its advice to buy on the stock with an unchanged target of 170p.
The analyst believes that financial performance is in line with expectations for the year and is improving thanks to good demand and the transformation program which is starting to bear fruit.
“The forecasts for the year are reiterated (0.6-0.8 billion pounds of FCF, operating profit of 0.8-1.0 billion pounds)” underlines Jefferies.
The analyst also believes that the comments for each division are mostly positive, although supply chain challenges continue to affect civil aerospace.
“If current trends continue, we believe the group could reach the high end of the range with the results of the first half of 2023,” said Jefferies.
The group has yet to set a date for its strategic update, which is still scheduled for the second half of this year.
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