(CercleFinance.com) – Thales gains more than 1% and outperforms the trend in Paris, on the back of positive comments from Bank of America which reaffirms its ‘buy’ recommendation with a new target price of 168 euros and estimates for 2024-25 raised from 3.7 to 4.6% for the group.
Returning to the memorandum of understanding to acquire Cobham Aerospace Communications for 1.1 billion dollars announced the day before, the broker declared that he saw in it ‘a good use of capital’ on the part of the French group.
“We believe Thales is well positioned to grow, at an attractive valuation of around 10x in terms of EV/EBIT ratio for 2024 and 8.5x for 2025”, adds the broker in its research note.
Copyright © 2023 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends with the buttons below.
