Leonardo : After 6 months at the helm, Roberto Cingolani attempts to make changes - target price increased to € 15.5
>Robust order intake in Q3 – EBITA in line – Further progress in reducing the seasonality of FCF - The cause for satisfaction in Q3 lies in the order intake which reached € 4.6bn, well ahead of consensus expectations at € 3.9bn, and what is more with no major orders, giving a book-to-bill of 1.36x. The performance is particularly robust in defence electronics (B/B of 1.6x) with just a single notable order to supply radars to the Italian air force. FOCF burn was also l...Leonardo is the holding company for The Finmeccanica Group, and is responsible for guiding and controlling industrial and strategic operations, coordinates its subsidiaries. The Finmeccanica Group operates in the Aerospace and Defence sector, which includes the Helicopters, Defence and Security Electronics, Aeronautics, Space and Defence Systems segments; and in the Transportation sector, which also includes Fata S.p.a., in addition to the companies operating in the transportation sector.
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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