Analyst Chloe Lemaire of Jefferies maintained a Buy rating on SAFRAN SA (0IU8 – Research Report), retaining the price target of €290.00.
Chloe Lemaire’s rating is based on the impressive performance of SAFRAN SA in the first quarter, where the company reported sales of €7.26 billion, surpassing consensus expectations by 3%. This growth was largely fueled by a significant increase in the sales of spare parts within the Propulsion segment, which saw a 25.1% rise.
Despite the absence of an upgrade to the company’s guidance and the exclusion of tariff impacts, the upward revision of spare parts growth to low teens is a positive indicator for the stock. This momentum in spare parts sales supports the Buy rating, as it suggests continued strong performance and potential for future growth.
In another report released on April 15, Deutsche Bank also maintained a Buy rating on the stock with a €246.00 price target.