TKMS : TKMS – a fully-integrated offer in the naval defence business – Initiation at Neutral on demanding valuation
As a fully-integrated naval solutions provider, TKMS is perfectly positioned to capture the strong growth of the market. With the phase-out of legacy contracts, we think that the company will be able to meet its medium-term guidance in terms of EBIT margin >7% as of 2027. We are initiating coverage with a Neutral recommendation and a target price of € 80 to reflect the current demanding valuation.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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