Safran shares outperformed the trend on the Paris Bourse on Monday, thanks to a note from Deutsche Bank, which raised its target price on the stock.

At around 2:20 pm, the high-tech group's shares managed to gain 0.1%, while the CAC 40 index lost around 0.2% at the same time.

In a note released in the morning, Deutsche Bank indicated that it had raised its target on the stock from 211 to 212 euros, while maintaining a "hold" recommendation.

According to the research firm, the French aerospace group's first-half results revealed that its fundamentals remain "solid".

While noting that Safran has decided not to raise its targets for 2024 in view of persistent tensions in its supply chain, Deutsche says it is considering a possible upward revision of its annual operating profit target in view of the improved mix of propulsion, aircraft interiors and defense businesses, but not of its free cash flow (FCF) forecast.

Deutsche Bank recalls that its 'hold' recommendation is supported by a new valuation judged to be 'solid'.

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