(News Bulletin 247) – Oddo BHF maintains its neutral rating on the Thales share with an unchanged price target of 137 euros.
While Thales will publish its results for the 1st quarter on July 21, Oddo BHF anticipates a turnover of 8633 ME with organic growth of 6.5% (including 9.2% in the 1st quarter and 4.3% in the 2nd quarter).
The broker estimates that profitability should be preserved and models an EBIT of 989 ME, or a margin of 11.5% (+66 bp).
For its part, Thales anticipates organic revenue growth of between 4% and 7% and an EBIT margin of between 11.5% and 11.8%.
“In the end, we believe that Thales could just tighten its objectives for the 2023 financial year towards the top of the existing ranges”, concludes Oddo BHF.
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