Safran designs, develops and manufactures high technology electronics through three businesses: Aerospace, Defense and Security. Aerospace includes Aerospace Propulsion (propulsion systems for commercial aircraft, military transport, training and combat aircraft, rocket engines, civil and military helicopters) and Aircraft Equipment (mechanical, hydromechanical and electromechanical equipment); Defense (optronic, avionic and electronic systems); and Security (biometric technologies for fingerprint, iris and face recognition, identity management products, access management and transaction security, including tomographic systems for detection of dangerous or illicit substances in baggage).
  • TickerSAF
  • ISINFR0000073272
  • ExchangeEuronext Paris
  • SectorAerospace & Defense
  • CountryFrance

Analysts

Alain William ...
  • Antoine Boivin-Champeaux
  • Florent Laroche-Joubert
  • Pierre Tegner
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/16/2019

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Alain William ...
  • Antoine Boivin-Champeaux
  • Florent Laroche-Joubert
  • Pierre Tegner
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 16/07/2019

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Antoine Boivin-Champeaux ...
  • Yan Derocles

Safran : Max issue keeping lid on upside for now

>An excellent H1 2019 in prospect - Leaving the B737 Max aside, all the indicators are on green. We forecast an excellent set of H1 2019 figures (release on 5 September), with operating profit up 26.9% at € 1.759bn, on organic sales growth of 7.3% to € 11.44bn. We expect a continuation of the robust trends in evidence in Q1, with i/ civil aftermarket growth of 10.6% in propulsion, largely offsetting the transition cost for CFM-Leap (the consequences of the Max aircraf...

Antoine Boivin-Champeaux ...
  • Yan Derocles

Safran : Le Max cape pour l’instant le potentiel du titre

>Un excellent S1 2019 à venir - En dehors du B737 Max, tous les voyants sont au vert. Nous tablons sur un excellent S1 2019 (publication le 5 septembre) avec une progression du résultat opérationnel de 26.9% à 1 759 M€ pour des ventes en croissance organique de 7.3% à 11 440 M€. Nous anticipons une poursuite des belles tendances visibles au T1 avec i/ une croissance de l’après-vente civile attendue à 10.6% dans la Propulsion qui permet de largement compenser le c...

Fatma Ayachi ...
  • Olfa Taamallah
  • Yan Derocles

ODDO : 2019 Paris Air Show: fails to hit the heights!

While the 2019 Paris Air Show ended on a lacklustre note in terms of orders, it was marked by the launch of the A321XLR (which complicates the equation for the NMA) and the shelving of a rapid increase in production rates to 70 aircraft per month (a relief for the supply chain). Our hierarchy of recommendations is unchanged and we continue to prefer engine makers with MTU our Top Pick (Buy - € 220). - >A disappointing show - The 2019 Paris Air Show ended on an even low...

Jean-Christophe Dourret

Safran : Safran - 31 May 2018

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Jean-Christophe Dourret

Safran : Safran - 31 mai 2018

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Antoine Boivin-Champeaux ...
  • Yan Derocles

Safran : Max issue keeping lid on upside for now

>An excellent H1 2019 in prospect - Leaving the B737 Max aside, all the indicators are on green. We forecast an excellent set of H1 2019 figures (release on 5 September), with operating profit up 26.9% at € 1.759bn, on organic sales growth of 7.3% to € 11.44bn. We expect a continuation of the robust trends in evidence in Q1, with i/ civil aftermarket growth of 10.6% in propulsion, largely offsetting the transition cost for CFM-Leap (the consequences of the Max aircraf...

Antoine Boivin-Champeaux ...
  • Yan Derocles

Safran : Le Max cape pour l’instant le potentiel du titre

>Un excellent S1 2019 à venir - En dehors du B737 Max, tous les voyants sont au vert. Nous tablons sur un excellent S1 2019 (publication le 5 septembre) avec une progression du résultat opérationnel de 26.9% à 1 759 M€ pour des ventes en croissance organique de 7.3% à 11 440 M€. Nous anticipons une poursuite des belles tendances visibles au T1 avec i/ une croissance de l’après-vente civile attendue à 10.6% dans la Propulsion qui permet de largement compenser le c...

Fatma Ayachi ...
  • Olfa Taamallah
  • Yan Derocles

ODDO : 2019 Paris Air Show: fails to hit the heights!

While the 2019 Paris Air Show ended on a lacklustre note in terms of orders, it was marked by the launch of the A321XLR (which complicates the equation for the NMA) and the shelving of a rapid increase in production rates to 70 aircraft per month (a relief for the supply chain). Our hierarchy of recommendations is unchanged and we continue to prefer engine makers with MTU our Top Pick (Buy - € 220). - >A disappointing show - The 2019 Paris Air Show ended on an even low...

Fatma Ayachi ...
  • Olfa Taamallah
  • Yan Derocles

ODDO : Le Bourget 2019 : ça ne vole pas très haut !

Si le salon du Bourget 2019 se clôture comme attendu sur un terne bilan commercial, il reste marqué par le lancement de l’A321XLR (complique l’équation du NMA) et l’abandon d’une hausse rapide des cadences à 70 a/c par mois (un soulagement pour la chaine fournisseurs). Notre hiérarchie de recommandations est inchangée et nous continuons de favoriser les motoristes avec une préférence pour MTU (Achat – 220 €). - >Un salon en demi-teinte - Le millésime 2019 du salon du B...

Jean-Christophe Dourret

Safran : Safran - 20 Jun 2019

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1 director sold

A director at Safran S.A. sold 10,410,000 shares at 119.650EUR and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of bo...

Alain William ...
  • Antoine Boivin-Champeaux
  • Florent Laroche-Joubert
  • Pierre Tegner
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/16/2019

...

Alain William ...
  • Antoine Boivin-Champeaux
  • Florent Laroche-Joubert
  • Pierre Tegner
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 16/07/2019

...

Antoine Boivin-Champeaux ...
  • Florent Laroche-Joubert
  • Stephane Houri
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 06/11/2019

Following our ODDO BHF Nextcap Forum, 44 French and German companies met close to 100 investors in Paris. In the complex small caps market (outflows, limited liquidity, persistently high valuations) and in a more uncertain macroeconomic environment, selectivity is paramount and a number of opportunities are taking shape. We compile 35 feedback articles in the present document, which give rise to six target price revisions: i/ three upward (Esker, ECA, Groupe Gorge), and ii/ three down...

Antoine Boivin-Champeaux ...
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Pierre Corby
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/11/2019

...

Antoine Boivin-Champeaux ...
  • Florent Laroche-Joubert
  • Stephane Houri
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 11/06/2019

A l’issue de notre conférence ODDO BHF Nextcap, 44 sociétés françaises et allemandes ont rencontré près de 100 investisseurs à Paris. Dans un marché des Small caps complexe (décollecte, liquidité limitée, valorisations encore élevées) et dans un environnement macroéconomique plus incertain, la sélectivité est primordiale et quelques opportunités se dessinent. Nous compilons dans ce document 35 feedbacks, qui donnent lieu à 6 révisions d’objectifs de cours : i/ 3 à la hausse (Esker, EC...

SAFRAN SA with less fundamental stars is reduced to Neutral

SAFRAN SA (FR), a company active in the Aerospace industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 3 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date May 14, 2019, the closing price was EUR 121.40 and its expected value was estimated at EUR 123.15.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

MarketLine Department

Nexter Group - Strategy, SWOT and Corporate Finance Report

Summary Nexter Group - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Nexter Group (Nexter) is a systems provider and integrator of land defense systems, weapons systems and armored vehicles. The company designs, develops, manufactures and markets large and medium caliber munitions, warheads, and safety devices for missiles and protection systems. It also special...

MarketLine Department

Leonardo S.p.A. - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Leonardo S.p.A. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Leonardo S.p.A. since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Hig...

MarketLine Department

Northrop Grumman Corporation - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Northrop Grumman Corporation Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Northrop Grumman Corporation since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its compe...

MarketLine Department

Rolls-Royce Holdings Plc - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Rolls-Royce Holdings Plc - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments Marketline's Rolls-Royce Holdings Plc Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Rolls-Royce Holdings Plc since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organ...

ICD Research Department

Safran SA : Technology and Communications - Company Profile, SWOT & Financial Analysis

Synopsis ICD Research's "Safran SA : Technology and Communications - Company Profile, SWOT & Financial Analysis" contains in depth information and data about the company and its operations. The profile contains a company overview, key facts, major products and services, SWOT analysis, business description, company history, financial analysis, mergers & acquisitions, recent developments, key employees, company locations and subsidiaries as well as competitive benchmarking data. Summary This report is a crucial resource for industry executives and anyone looking to access key information abou...

Jehanne Leroy

Safran - Assemblée générale des actionnaires du 23 mai 2019

Rémunérations : La politique de rémunération 2019 ne présente aucun changement par rapport à 2018. Cette politique de rémunération présente ainsi des montants ainsi qu'une structure acceptables et nous la soutenons. Gouvernance : La société propose le renouvellement de son Directeur général, M. Petitcolin. Au regard de la séparation des fonctions (pratique que nous encourageons) et des bonnes performances boursières que la société enregistre depuis que M. Petitcolin est devenu Directeur Général (+52,5%), nous soutenons ce renouvellement. En revanche, concernant M. McInnes, lors de l'AG 20...

Expert Corporate Governance Service (ECGS)

Safran - AGM 23 May 2019

ITEM 4: the Company proposes to re-elect Ross McInnes, Chairman of the Board. In 2017, TCI (a UK-based fund) asked to add a resolution to the agenda so that shareholders could be consulted on the acquisition of Zodiac. The Board of Safran refused to add this resolution to the agenda. We consider that this refusal is a major breach of the shareholding democracy (especially considering that it was a non-binding consultation). As Chairman of the Board, Ross McInnes is responsible for this breach. Thus, we do not support his re-election.

Safran – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Jehanne Leroy

Safran - 27 Novembre 2018

Lors de l'annonce de l'acquisition de Zodiac par Safran en janvier 2017, Proxinvest et de nombreux investisseurs font entendre leur voix pour contester le prix offert par Safran (29,47 €/action Zodiac, soit une prime de 36% sur le cours de Zodiac au 31 décembre 2016), trop élevé, particulièrement au regard des difficultés rencontrées par Zodiac. Le 24 mai 2017, grâce à cet activisme actionnarial, Safran revoit à la baisse son prix et propose alors 25 €/action Zodiac (prime de 14,6%) (soit une économie de plus 1,2 Mds€). Lors de la présente assemblée, les actionnaires sont appelés à se prononc...

Expert Corporate Governance Service (ECGS)

Safran - 2018, November 27

ITEM 2: When Safran announced in January 2017 that it would acquire Zodiac for €29.47/share, several shareholders and investors contested this price as it was deemed excessive considering Zodiac’s difficulties. On May 2017, Safran reduced its offer price to €25/share (a 14.6% premium compared to Zodiac’s share price as of 31/12/2016). At this 2018 EGM, shareholders are called to approve the merger between Safran and Zodiac. The exchange ratio proposed (0.2745 Safran share for 1 Zodiac share) includes a 16% premium compared to Zodiac’s share price as of 31/12/2016). This is line with the 14.6%...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Developed Markets Leadership Chart Book

Europe in focus The U.S. dollar continues to grind marginally higher, and EM equities have suffered as a result. Meanwhile, RS for the MSCI EAFE index is bottoming when compared to the MSCI EM index, largely due to outperformance in Europe. With developed int'l markets beginning to outperform emerging markets, we recommend adding exposure to the developed int'l space. Below we highlight attractive and actionable themes within developed int'l: • Europe & Japan: Though this is an all-encompassing bottoms-up chart book for developed ex-U.S., make no mistake, the vast majority of today's buy rec...

Valérie GASTALDY

Analyse court terme - SAFRAN : La tendance est haussière.

La tendance est haussière. Les cours progressent encore, mais la tendance s'affaiblit. La prochaine résistance est à 117,20 €. La rupture de 105,35 € mettrait la tendance en danger.

Valérie GASTALDY

Short term view - SAFRAN : The trend is bullish.

The trend is bullish. Prices are still making progress but the trend is slowing down. The next resistance is at €117.20. The break of €105.35 would endanger the trend.

Valérie GASTALDY

Short term view - SAFRAN : Falling prices.

The trend is uncertain. Prices are falling, but the trend is lacking power for the time being. The next support is at €105.35.

Valérie GASTALDY

Analyse court terme - SAFRAN : Les cours baissent.

La tendance est incertaine. Les cours baissent, mais la tendance manque de puissance pour le moment. Le prochain support est à 105,35 €.

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