11:43 AM EDT, 10/26/2026 (MT Newswires) -- Berenberg lowered its price target for Thales (HO.PA) following the French aerospace and defense group's third-quarter trading update, noting that investor sentiment is weighed down by macroeconomic uncertainty in France. "Defence remained the driver of growth for Thales in Q3, offsetting another weaker performance in the Cyber & Digital segment. Space also proved to be a bright spot. The macroeconomic backdrop remains challenging in Thales's home market. The stock may remain range-bound for as long as the outlook for French defence spending and the potential for a higher tax regime in France remain uncertain, in our view," analysts wrote in a Monday note. Taking this and lower peer multiples into consideration, the research firm revised the hold-rated stock's price target to 260 euros from 275 euros. Meanwhile, sales and EPS forecasts for 2026 were raised by 0.5% and 0.3%, respectively. For 2027 and 2028, the estimates for both metrics were also bumped up.

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