(News Bulletin 247) – Stifel maintains its buy rating on the Dassault Aviation stock, with an unchanged price target of 240 euros.
After the results published last night, the analyst believes that ‘the French aircraft manufacturer’s results for the first half of 2023 may seem disappointing’.
And to point out that the company took few orders, delivered very few planes, recorded a 26% drop in turnover and consumed nearly 2 billion euros in cash.
‘In reality, these figures reflect the ramping up of production and are, in our opinion, the prelude to the take-off of sales. Order intake should rebound strongly in the second half, bringing the order book to 8 years of turnover,’ estimates Stifel.
In this context, the broker anticipates an increase in EPS. ‘We estimate that by the end of the year the order book should total more than 230 Rafale and nearly 90 Falcon jets’, concludes the analysis office.
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