Thales : Imperva to improve growth profile – target price raised to € 146
>The finalisation of the acquisition of Imperva offers critical mass in cybersecurity - Thales has announced the finalisation of the acquisition of Imperva a little earlier than expected with consolidation beginning in January 2024. We have therefore factored Imperva into our estimates, which should see the new DIS segment (including the dilutive sovereign protection products business) trend towards an EBIT margin of 14% in FY24 (vs 14.8% in FY23 under the old format)...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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