Dassault Aviation: Oddo BHF still on hold

(CercleFinance.com) - Oddo BHF maintains its 'neutral' rating on Dassault Aviation shares, with an unchanged target price of E195.


Last night, Dassault Aviation published sales figures that were broadly in line with expectations. 21 Rafales were delivered in 2024, including 14 for France and 7 for export (+1 vs guidance and +8 vs. FY 23), while only 31 Falcon jets were delivered (-4 vs. guidance and +5 vs FY 23).

The analyst believes that while the supply chain seems to have stabilised, the weakness of Falcon deliveries shows that certain bottlenecks persist.

Oddo BHF reports that the share's valuation remains attractive, while it will be necessary to wait for a tangible improvement in the supply chain to restore flexibility in production and thus offer customers slots on a shorter timescale.


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