Airbus: Credit Suisse raises target price
(CercleFinance.com) - Maintaining its buy ("outperform") rating on the share of the aircraft manufacturer Airbus, this morning Credit Suisse welcomed the group's H1 accounts.
It has therefore raised its target price for the share from 130 euros to 140 euros.
Analysts point out that Airbus has reported H1 adjusted operating profit that is 12% above the consensus (communicated by the company), which comes as a pleasant surprise, as does its free cash flow generation. The main explanation for this is that its civil aviation division, where operating income came in 13% above expectations. Finally, management has maintained its forecasts.
Credit Suisse has increased its forecast for monthly A320 deliveries by 2022 from 63 to 65. It has also raised its operating profit expectations between 2020 and 2022, which explains why it has raised its target price for the share.
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