Safran : Accélération de la génération de cash et upside sur l’après-vente - OC relevé à 151 €
>Une guidance après-vente 2023 certainement prudente - Safran anticipe une croissance de l’après-vente civile en dollars dans les « low twenties » en 2023 après 29.3% en 2022 mais nous pensons qu’un upside existe, notamment sur les pièces détachées CFM56. Nous tablons désormais sur 25%. D’une part, cet objectif intègre une stabilisation du work scope (certes revenu au niveau pré-crise l’année dernière) alors que la fin du green time devrait forcer les compagnies aérie...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).
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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