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Airbus: Barclays starts coverage with 'overweight' rating

( - Barclays initiates its coverage of the Airbus stock with an "overweight" recommendation and a target price of 155 euros, saying that "Airbus' superior cash flow outlook should be reflected in an equity re-rating".

"Thinking about the next five years, we believe the Airbus portfolio should outgrow Boeing's" the broker says, considering that the European aircraft manufacturer should be partly helped in the short term by grounding the 737Max.

While acknowledging that Airbus has challenges, Barclays believes that the risk of disappointment on cash flow generation has diminished, and that its cash flow profile is now becoming both more predictable and more robust compared with that of its main competitor Boeing.

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