Thales Shares Gain Ground Mid-Session, Boosted by Analysts
Thales shares are up 1.05% at midday on Tuesday, February 3, 2026, reaching 259.70 euros. This increase follows an upgrade in recommendation and a target price adjustment by two international investment banks. Over the past seven days, the defense and technology group has seen a gain of 1.25%.
Analyst Interest Revives in Defense and Electronics Specialist
The defense and electronics systems specialist is benefiting from renewed interest from analysts. Jefferies upgraded its recommendation from 'hold' to 'buy' on Monday, February 2, while significantly raising its price target from 250 to 310 euros. This new target suggests a potential appreciation of nearly 19% from the current price. A few days earlier, Morgan Stanley also revised its analysis of the group, raising its target from 260 to 280 euros and maintaining a 'market-weight' opinion dated January 28. These successive stances reflect a revaluation of the file in a context marked by rising military budgets in Europe and the group's technological diversification.
Technical Analysis Shows Bullish Mid-Term Trend for Thales
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From a technical standpoint, Thales' share price is moving above its 50 and 200-day moving averages, positioned at 241.29 and 245.17 euros respectively, indicating a bullish mid-term dynamic. The stock is also close to its 20-day moving average, set at 260.48 euros, suggesting a consolidation in the current zone. The RSI, at 43, is in neutral territory, far from overbought zones, which leaves room for progression. The next resistance is positioned at 270.20 euros, while a support is identified at 227.10 euros. Investors will be watching the annual results expected on March 3, an event that could provide additional insights into the group's trajectory in a geopolitically favorable environment for defense stocks.
Net income: 2 005 millions d'euros (Résultat Net Ajusté, part du Groupe)
Free cash flow: 2 577 millions d'euros
Net debt: -1 618 millions d'euros
Dividend per share: 3,90 €
Payout ratio: 40 %
Guidance from the release
2025 a été une très bonne année avec des commandes records et une croissance du chiffre d’affaires, démontrant l’excellence opérationnelle du Groupe.
Communiqué indiquant des commandes records, un chiffre d’affaires en hausse et une rentabilité améliorée en 2025, avec des perspectives 2026 positives et un dividende soutenu.
Outlook / guidance
Expected revenue: Entre 23,3 et 23,6 milliards d'euros en 2026
Expected EBITDA: Non précisé publiquement
Expected net income: Non précisé publiquement
Management commentary: Pour 2026, Thales vise un book-to-bill supérieur à 1 et une croissance organique du chiffre d’affaires entre 6 % et 7 %, correspondant à un chiffre d’affaires entre 23,3 et 23,6 milliards d’euros, et une marge d’EBIT Ajusté entre 12,6 % et 12,8 %; le taux de conversion en cash devrait se situer entre 95 % et 100 %.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
