THALES : Oddo BHF maintains its Outperform rating
The research house also sees the CMD (14/11) as a catalyst that could highlight the extent of undervaluation in cyber, and hopes for a more shareholder-friendly capital allocation strategy from early 2025.
After the sharp correction that affected French stocks, Thales is trading at an 8% discount to its main European defense peers, whereas it has enjoyed a 7% premium on average since the beginning of 2022", adds the analyst.
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