Thales : DIS now bringing a real booster effect – target price raised to € 139
>DIS: big surge in 2022 but a slowdown may be on the cards from 2023 - After impressive organic growth of 21.8% in Q3, we are expecting a slowdown in Q4 (3.3%e), mainly due to a more demanding comparison base (10.8% in Q4 2021 with the start of the recovery in biometrics). However, we are modelling strong leverage thanks to a 2022 margin set to reach 13.1%, vs the group target of 12.5-13.5% initially set for 2023. For the following year, we are adopting our economists...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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