Safran SA

SAF: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€287.00	Ftgb	Thythtblcl

Safran: Acquisition of Collins Potentially Strengthens Safran's Moat at a Fair Price

Loredana Muharremi

Jul 24, 2023

Safran announced the acquisition of Collins' actuation and flight control systems business for $1.8 billion in an all-cash deal, expected to be completed in 2024. We believe the strategic fit of the acquisition is strong and moat-accretive, and the valuation appears fair in our view. Our EUR 160 fair value estimate and wide moat rating are unchanged.

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