SAFRAN SA, the Industrials sector company, was revisited by a Wall Street analyst today. Analyst Chloe Lemaire from Jefferies maintained a Buy rating on the stock and has a €350.00 price target.
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Chloe Lemaire’s rating is based on the anticipation of strong sales growth for Safran in the third quarter, with an expected increase of 14% year-over-year. This growth is driven by a robust performance in the Propulsion segment, which is projected to rise by 17% organically, largely due to strong aftermarket sales and a recovery in LEAP engine deliveries.
Additionally, the Equipment segment is expected to see a 12% organic growth, although the Interiors segment may experience a slowdown to 5% growth due to ongoing challenges in seat certification within the industry. Despite these challenges, the integration of Collins Flight Controls is expected to provide a 4% boost, offsetting a 3% foreign exchange headwind. These factors collectively contribute to a positive outlook for Safran, justifying the Buy rating.
According to TipRanks, Lemaire is a top 25 analyst with an average return of 41.2% and a 93.64% success rate. Lemaire covers the Industrials sector, focusing on stocks such as Airbus Group SE, Rolls-Royce Holdings, and SAFRAN SA.
In another report released on October 7, Barclays also maintained a Buy rating on the stock with a €320.00 price target.