Safran : Greater confidence on the trajectory - target price lifted to € 140
>Slow start to FY 2021 - As we expected, FY 2021 got off to a very slow start with a low point probably reached in February for most of the group’s divisions. In propulsion, the fall in civil aftermarket sales was a shade above our expectations (-53.4% vs -50%e) but is explained by a slight reduction in the workscope which the company does not see continuing for the rest of the year (in line with our estimates). Equipment and especially the interiors business were str...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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