On Monday, Berenberg raised its target price for Safran from €175 to €235, while renewing its buy recommendation on the stock.

In a research note, the research firm describes the 19.1% organic growth achieved by the aerospace equipment supplier over the first three months as "impressive".

However, it cannot help pointing out that the Group's costs have risen as a result, the dynamism of the business being necessarily associated with the related expenses in accordance with IFRS principles, an element which it nonetheless considers to augur well for the development of profit margins.

However, after the surge in the share price that preceded this publication, the analyst now sees more potential in stocks such as MTU, Honeywell and Montana Aerospace.

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