(CercleFinance.com) – Morgan Stanley resumed monitoring of Thales shares on Wednesday with a ‘weight in line’ recommendation and a price target of 150 euros, explaining that it envisages few catalysts in the short term.
In a research note, the analyst recalls that the French electronics group’s stock has remained trapped in a limited trading range over the last 12 months, underperforming the sector by around 20% despite buoyant elements such as the strength of the defense market.
From his point of view, several factors should continue to slow down the evolution of the value this year, starting with the overly ambitious projections established by the consensus in view of the company’s disappointing performance in space activities.
The intermediary also says it fears a lesser distribution of capital due to the need to integrate Imperva and adds to exclude new share buybacks beyond the current program.
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