Thales : Permeating growth – target price raised from € 95 to € 97
>Aerospace recovering faster than expected - Two components at the aerospace division appear to be recovering more rapidly than we had anticipated. The space activity (after growth of 24% in Q1) should not only be in a position to generate “high single to low double digit” growth in 2021 but the trend should continue thereafter since the group thinks that it can achieve sales of € 2.5bn 3-4 years out, i.e. CAGR of between 6% and 7.5%. Moreover, this does not take int...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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