(News Bulletin 247) – Jefferies maintains its Buy recommendation but lowers its price target from 140 to 132E on Airbus shares.
The drop in delivery targets announced by Airbus in November is causing ‘some pressure on shares’, the analyst believes, but limited because the group is maintaining its EBIT and FCF target. ‘
“The 2-3% delivery reductions and the adjustment of exchange rates result in EBIT reductions of 1%/6%/8% over 2022-24,” adds Jefferies.
“We are now 8%/5% below forecast for 2023/24 EBIT, with deliveries 3%/0% below forecast for these years,” the analyst concludes.
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