RJefferies maintains its "buy" recommendation on Dassault Aviation shares, raising its target price for them by 11% to €390, in a sector report on European aerospace and defense electronics stocks.

Within this sector, after a strong rally in defense and a significant decline in civil aviation due to concerns about customs duties, the broker now prefers civil aviation stocks instead.

Nevertheless, Jefferies is raising its valuation multiples for defense stocks to reflect the segment's recent appeal as a safe haven and the integration of its 2028 forecasts into its valuations.


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