Report
Jeffrey Vonk
EUR 100.00 For Business Accounts Only

We're raising our Safran fair value estimate to EUR 99; shares fairly valued.

The aviation world is gearing up for the Farnborough Air Show, slated for July 16-22, and we’re expecting orders for small wide-bodies (787 and A330neo), coupled with decent demand for narrow-bodies. However, we don’t think larger wide-bodies (777X and A350-1000) will see significant orders, and we’re also not expecting Boeing to formally launch its the next-generation midsize aircraft, or NMA. We think Embraer will land some E2/E1 orders and the C Series--now under Airbus control--could bring i...
Underlying
Safran S.A.

Safran designs, develops and manufactures high technology electronics through three businesses: Aerospace, Defense and Security. Aerospace includes Aerospace Propulsion (propulsion systems for commercial aircraft, military transport, training and combat aircraft, rocket engines, civil and military helicopters) and Aircraft Equipment (mechanical, hydromechanical and electromechanical equipment); Defense (optronic, avionic and electronic systems); and Security (biometric technologies for fingerprint, iris and face recognition, identity management products, access management and transaction security, including tomographic systems for detection of dangerous or illicit substances in baggage).

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Jeffrey Vonk

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