(News Bulletin 247) – Morgan Stanley initiated coverage of Safran on Tuesday with an ‘overweight’ recommendation and a target price of 184 euros, making the stock its ‘preferred value’ (top pick) within the aeronautics sector in Europe.
In his study, the analyst believes that the French equipment manufacturer should benefit from the trend to extend the life of devices, against a backdrop of continued disruptions in supply chains.
According to the intermediary, Safran should be one of the key beneficiaries of the strength of the spare parts market due to the aging fleet of its CFM56 engines, which power both the A320ceo and the Boeing 737NG.
Morgan Stanley recalls that activities related to this engine have a positive impact on the group’s results.
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