Oddo BHF has downgraded its opinion on Dassault Aviation from 'outperform' to 'neutral', with a price target reduced from €214 to €201, in the wake of a 6% average reduction in its EBIT estimates over the next four years.

The research department is taking a more cautious view, and has reduced its Falcon delivery forecasts for 2023, but also for the coming years, in order to factor in more lasting supply chain disruptions.

Furthermore, Oddo BHF considers that the risk of supply chain problems spilling over into Rafale production cannot be ruled out, with potential consequences for future sales campaigns for the fighter jet.

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