THALES : Morgan Stanley initiates overweight coverage
The broker claims that the French group, as well as its British peer BAE Systems, also recommended 'overweight', have 2025 earnings forecasts that are 3-4% above consensus.
More importantly, our longer-term growth projections (2025-30) significantly exceed consensus (6% for both BAE and Thales, versus 3% and 4% consensus, respectively)', he adds.
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