Airbus: with clouds ahead, Credit Suisse cuts TP
(CercleFinance.com) - Crédit Suisse considers that, with a FCF of 642 million euros and EBIT that is 16% above the consensus, Airbus achieved "good performance" in Q3.
However, the analyst is still cutting his expectations for the company's net profit, with a decline of 700 million euros in 2020 and -5%/-2%/0%/-1% respectively between 2021 and 2024.
Uncertainties surrouding the evolution of the pandemic are weighing heavily on forecasts. Against this backdrop, Crédit Suisse nevertheless maintains its outperform rating on the stock, although has trimmed its target price for the share from 106 euros to 103 euros.
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