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Thales rises on UBS upgrade amid European defense spending surge
Thales surged to the top of the CAC 40 after UBS upgraded its rating to "buy," highlighting the company's potential to benefit from rising European military budgets. Shares rose 3.4% to 248.2 euros, with UBS forecasting a 12.5% growth in defense sales by 2030, despite cautioning against overly optimistic sales growth expectations. Meanwhile, UBS downgraded Italian defense group Leonardo to "neutral," citing limited room for further gains.
Thales rises on UBS upgrade amid European defense spending surge
Thales surged to the top of the CAC 40 after UBS upgraded its rating to "buy," highlighting the company's potential to benefit from rising European military budgets. Shares rose 3.4% to 248.2 euros, with UBS forecasting a 12.5% growth in defense sales by 2030, despite cautioning against overly optimistic sales growth expectations. Meanwhile, UBS downgraded Italian defense group Leonardo to "neutral," citing limited upside in its current valuation.
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