Thales : A cycle of revisions instigated before the catalyst effect of the CMD
We are upgrading our recommendation to Outperform with a new target price of € 195. The stock is set to benefit from momentum on the upward revision to EPS forecasts that we anticipate, the catalyst of the CMD (14 November) which could shine a light on the magnitude of the undervaluation of the cyber activity (blue sky scenario +€ 47 per share) and the capital allocation strategy that we hope will be more favourable to shareholders from the start of 2025. All this at an attractiv...Thales is an electronics and systems group, serving defense, aeronautics, transport, space and security markets. Co.'s operations can be divided into four operating segments: Aerospace (Avionics, Space), Transportation (Ground Transport Systems), Defence & Security (Secure Communications & Information Systems Land and Air Systems, Defence Mission Systems), and DCNS. Co. designs and delivers systems for all four environments: air, land, sea and space. These systems detect and assess threats, manage information, support command decisions and control engagements through to threat neutralization. Co. is active in ground transportation; air transport; navigation systems.
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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