(CercleFinance.com) – Thales posted the biggest rise in the CAC 40 index on the Paris Stock Exchange on Monday, thanks to an increase in its recommendation on the stock.
Around 2:30 p.m., the action of the equipment manufacturer for aerospace, defense and security took 3.2% and thus returned to the immediate vicinity of its all-time high of 135.5 euros.
In a note devoted to the European defense sector, JPMorgan indicates that it has raised its recommendation on the title from ‘neutral’ to ‘overweight’ with a price target maintained at 160 euros.
The research office – which had downgraded its advice on the title last November – estimates that after an underperformance of around 10% compared to the rest of the sector since the beginning of the year, the title is become ‘more attractive’ again.
He also underlines that the project to increase the budget of the French Army announced last January by President Macron (+7% annual forecast on average over the period 2024-2030) gives Thales an ‘unprecedented’ visibility on its long-term growth.