(News Bulletin 247) – Stifel resumes an Airbus follow-up with a ‘buy’ recommendation and a price target of 165 euros, seeing it as ‘a key post-pandemic recovery file over a decade, with margin and cash flow attractive, as well as a revaluation angle’.
The broker anticipates an average annual growth of 20% in adjusted operating profit (EBIT) over the period 2022-25, as well as an improvement in the FCF conversion rate, thanks in particular to an improvement in the mix of deliveries in the A320 family.
According to Stifel, these higher-than-consensus estimates are not reflected in the Airbus share price, which he says trades at a significant discount to its American peer Boeing, and only in line with its historical multiples.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
