(News Bulletin 247) – Stifel on Monday raised its price target on the Dassault Aviation stock, which it still considers ‘undervalued’ despite its recent stock market outperformance.
In a research note, the financial intermediary points out that the action of the aircraft manufacturer has “clearly outperformed” the average values during the last nine months, winning a gain of more than 20%.
A tour de force that the analyst attributes to the solid results and fundamentals of the aeronautical group, but above all to development prospects deemed “exceptional” for the Rafale against a backdrop of tensions in Ukraine and Taiwan.
‘The order book could approach a level representing eight years of activity by the end of the year, an element which has not yet been taken into account in the stock market’, underlines he.
According to Stifel, the market has not further integrated the company’s 25% stake in Thales, estimated at some 7.1 billion euros, nor a net cash position which should reach 12.4 billion euros. euros at the end of 2023.
The professional, who maintains his recommendation to buy the title, therefore raises his target price on the value from 185 to 240 euros.
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