Dassault Aviation: Up 67% over the year

(CercleFinance.com) – Dassault Aviation lost nearly 1% on Friday on the Paris stock exchange and suffered some gains that did not prevent it from posting an impressive stock market gain of nearly 67% across the board. year 2022.

The stock has continued to set new highs in the stock market this year thanks to solid financial results and new contracts.

Bernstein initiated monitoring of the stock in mid-November with an ‘outperformance’ opinion and a target price of 190 euros.

In a research note, the intermediary pointed out that the two engines behind the group’s stock market development both have solid prospects.

“Dassault Aviation offers investors a rare opportunity to expose themselves to a value essentially associated with defense, yet driven by two programs: the Rafale military aircraft and the Falcon business jet,” the analyst had stressed.

Bernstein recalled that the Rafale order book is full until 2030, based solely on contracts received, but that upside potential could well come from the arrival of new orders.

As for business jets, activity appears to be “particularly solid” at present despite the threat of a recession, with demand continuing to significantly outstrip available supply,” the office added. “analyses.

For Bernstein, Dassault Aviation therefore represents a ‘well-positioned’ stock to benefit from the current environment.

JPMorgan had also presented a number of live elements, such as the good outlook for the defense market, but also the planned recovery of the Falcon business jet, as well as a balance sheet structure that was considered “extremely solid”.

Oddo BHF had also reiterated its ‘outperformance’ statement on Dassault Aviation at the end of October and had adjusted its price target from 175 to 170 euros, ‘only to reflect the new market parameters (risk-free rate and risk premium)’.

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