Safran, BAE, Thales Favored; MTU, Meggitt May See M&A: Goldman
2015-04-17 06:47:49.192 GMT
By Brian Lysaght
(Bloomberg) -- 2015 is transition year for Euro aerospace &
defense as U.S. weapons budget begins to grow and Airbus,
Safran, MTU Aero undertake major product plans, Goldman says.
* Improved defense outlook may spur M&A; MTU Aero, Meggitt
rated high probability in M&A
* Safran reiterated conviction buy, top pick in civil
aerospace; est. 2014-17 Ebit annual avg growth 11%, trades
at discount vs sector
* Thales added to conviction buy list, can beat M/T margin
targets
* BAE reiterated conviction buy, preferred on defense recovery
* MTU Aero cut to neutral from buy following outperformance
* Reinstates Finmeccanica as buy, Cobham as neutral: Goldman
* NOTE April 13: Staying Overweight on Global Aerospace and
Defense, RBC Says
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--With assistance from Gaurav Panchal in London.
To contact the reporter on this story:
Brian Lysaght in London at +44-20-3525-7908 or
blysaght@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-3525-2645 or
jludden@bloomberg.net
Brian Lysaght
2015-04-17 06:47:49.192 GMT
By Brian Lysaght
(Bloomberg) -- 2015 is transition year for Euro aerospace &
defense as U.S. weapons budget begins to grow and Airbus,
Safran, MTU Aero undertake major product plans, Goldman says.
* Improved defense outlook may spur M&A; MTU Aero, Meggitt
rated high probability in M&A
* Safran reiterated conviction buy, top pick in civil
aerospace; est. 2014-17 Ebit annual avg growth 11%, trades
at discount vs sector
* Thales added to conviction buy list, can beat M/T margin
targets
* BAE reiterated conviction buy, preferred on defense recovery
* MTU Aero cut to neutral from buy following outperformance
* Reinstates Finmeccanica as buy, Cobham as neutral: Goldman
* NOTE April 13: Staying Overweight on Global Aerospace and
Defense, RBC Says
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
--With assistance from Gaurav Panchal in London.
To contact the reporter on this story:
Brian Lysaght in London at +44-20-3525-7908 or
blysaght@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-3525-2645 or
jludden@bloomberg.net
Brian Lysaght