(News Bulletin 247) – Oddo BHF reaffirms its ‘outperformance’ opinion and its target price of 151 euros on Safran, its favorite value (‘top pick’) in aeronautics and defense with Airbus, in a consecutive sector note at the Paris Air Show.
‘While the number of orders from the 2023 Paris Air Show may have disappointed some investors, we are, for our part, more confident. Demand, in both new and after-sales, shows no sign of slowing down’, judges the analyst.
‘The health of the supply chain is gradually improving and the level of safety stocks is deemed satisfactory by OEMs and Tier 1s. Engine manufacturers are the big winners of this show with an incrementally favorable feeling’, he continues.
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