Oddo BHF reiterates its 'outperform' rating on Dassault Aviation with a price target raised from 170 to 175 euros, highlighting exposure to rising interest rates 'which is driving EPS' and momentum in terms of order intake.

The valuation remains as attractive as ever, with a core business of just under 4.5 billion euros, which implies a Falcon value of less than one billion euros if the military business is valued in line with European peers", the analyst also points out.

On March 9, the research department expects Dassault Aviation to report a solid 2022 financial year, with EBIT expected to come in at 504 million euros, down just 4.4% on 2021 despite a drop of 12 Rafale export deliveries.

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