(CercleFinance.com) – Stifel reiterates its ‘buy’ recommendation on Dassault Aviation with a price target raised from 120 to 130 euros, a new target implying a growth potential (TSR) of around 27% for the manufacturer’s stock aeronautics.
The broker indicates modestly raising its estimate of EPS 2021 to reflect higher deliveries of Falcon, due to the solid performance in business jets achieved during the past year.
‘From our point of view, the Rafale has a clear export dynamic and the Covid is likely to support a greater propensity to travel in private’, adds Stifel, who also points to an underperformance of the title in 2021 relative to the Stoxx A&D index.