Barclays reaffirms its 'overweight' recommendation on Safran, with a price target raised from 165 to 178 euros, in a note on the French aircraft engine manufacturer and its German peer MTU Aero Engines.

The broker maintains its preference for Safran over MTU for 2024, explaining that it sees 'much better opportunities to play the aftermarket theme in Europe with Safran and Rolls-Royce'.

By comparison, Barclays remains 'in-line weighted' on MTU, with a price target raised to 211 euros, expecting it to 'be worth significantly more than its current price, once the additional risk on the GTF engine is removed'.

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.