(News Bulletin 247) – Oddo maintains its ‘outperformance’ rating on the Airbus Group share, with an unchanged price target of 145 euros.
While the aircraft manufacturer will publish its Q1 results on the evening of May 3 – results which should reflect the weakness of deliveries – Oddo is modeling an adjusted EBIT of 716 ME, for a turnover of 10.9 BnE, i.e. a margin of 6.6 % (-396 bps).
‘The publication of Q1 should not reveal any surprises but will demonstrate that the contribution of additional volume will provide operational leverage despite inflationary pressures’, underlines the broker.
According to the analyst, most of the decline in margin is attributable to Airbus Commercial, a division which should see EBIT fall by 50.1%, to 532 ME.
“While most players are reporting a gradual improvement in the health of the supply chain, we are waiting for concrete elements that would show that Airbus is regaining control of its chain,” says Oddo.
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