(CercleFinance.com) – Jefferies keeps its recommendation to Hold and its target price of 130E on the Safran share.
The advanced talks for the acquisition of the Actuation business of Raytheon Technologies (RTX) do not delight the analyst more than that.
“We flag the low margin potential and weak secondary market nature of this business as potential negatives, as any merger and acquisition for Safran competes with the potential for share buybacks,” says Jefferies.
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