(News Bulletin 247) – Stifel reiterates its ‘buy’ recommendation on Airbus with a price target raised by 14% to 160 euros, after performances deemed solid in the last quarter of 2022 in terms of EBIT and cash flow compared to the consensus.
“2023 targets only slightly below expectations for deliveries and EBIT are generally reassuring, given fears over supply chain issues and cost inflation,” the broker added.
According to Stifel, ‘Airbus offers strong EPS growth at reasonable multiples, good cash flow beyond 2023 with a leading position in a duopolistic market and low reinvestment needs’.
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