Thales Shares Hold Steady at €267 Despite Barclays' Continued Caution
On Wednesday, the share price of the defense electronics group remained perfectly stable at 267 euros, identical to the previous day's closing price. This stability contrasts with the decline of the CAC 40, which fell by 0.63% during the session. Barclays, however, raised its price target on the stock today without altering its cautious recommendation.
On April 15, the British bank updated its evaluation of Thales, increasing its price target from 260 to 270 euros. This new target is nearly identical to the current share price, inherently limiting the expected upside according to the institution. Importantly, Barclays maintains an 'underweight' recommendation, indicating that it finds the current valuation unattractive based on its projections. This increase in the price target may reflect the integration of updated data, but it does not represent a change in stance regarding the company. The general assembly of the group is scheduled for May 12, an event that could provide new insights to shareholders.
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Graphically, the share price of 267 euros is significantly above its 50-day and 200-day moving averages, at 252.80 and 245.32 euros respectively, indicating a medium and long-term bullish trend. However, the stock is approaching its technical resistance set at 270.30 euros, a threshold nearly coinciding with Barclays' new target. The RSI, at 59, remains in a neutral zone without indicating any particular upward or downward pressure. This Wednesday, the CAC 40 fell by 0.63% during the session while the German DAX was stable (+0.05%). Among comparable stocks in Paris, Airbus lost 0.51% while Schneider Electric remained stable. Over the past year, Thales' performance has increased by 5.74%, a moderate rise for a defense player in an otherwise turbulent geopolitical context. Over the last seven days, the stock has gained 0.79%, confirming a gradually ascending dynamic without marked acceleration.
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.
