Kepler Cheuvreux upgrades Theon to 'hold' on valuation

Theon International

22/08/2025 09:38

** Kepler Cheuvreux raises Greek aerospace and defence company Theon THEON.AS to "hold" from "reduce", citing an improved valuation and order prospects

** The broker notes the stock's recent derating amid Russia-Ukraine ceasefire talks has created more reasonable multiples, allowing the group to redeploy capital into enhancing deals

** "We are confident in light of the European reinvestment phase that orders are coming and should support the group's growth for the next three years," says Kepler Cheuvreux in a note

** Its diversification drive is seen as key to defending future valuation, with the broker noting recent deals show Theon is "putting the building blocks in place for a more secure future"

** Out of 7 analysts that cover Theon International, six   rate the stock "strong buy" or "buy" and ​one analyst rates it "hold"

 (Reporting by Clement Martinot)

 ((Clement.Martinot@thomsonreuters.com;))