(CercleFinance.com) – Oddo BHF reiterates its ‘outperformance’ opinion on Safran with a price target raised from 173 to 202 euros, explaining that the favorable impact of economic tensions is pushing for an upward revision of its estimates for the group high technologies.
‘Certainly, following the recent increase in the price (18.6% since the start of the year), the valuation is tightening with a sliding 12-month PE of 26.5 times compared to 18.5 times for the average five years prior. -Covid, but the visibility is high, judges the analyst.
Oddo BHF estimates the average annual growth of 2023-26 EPS at 19%, with a high degree of certainty, and at almost 11 billion euros the cumulative free cash flow over the next three years, a significant part of which will be returned to the shareholders according to him.
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