Oddo BHF reiterates its 'outperform' rating and 195-euro price target on Thales, believing it will benefit from accelerating growth in defense thanks to the gradual disappearance of bottlenecks.

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.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.