Airbus: Goldman Sachs confirms buy rating
(CercleFinance.com) - Goldman Sachs confirms its buy rating on the Airbus share, with a target price of 139 euros, after the group announced its delivery figures.
The group delivered 89 aircraft in December, compared with 138 last year, but recorded a significant acceleration compared with November.
A total of 566 aircraft were delivered in 2020 despite the impact of COVID-19, 3% above the analyst's forecast (547).
"The majority of the additional deliveries vs our forecast were high-margin... driving a E202mn uplift to our 2020 EBIT forecast," Goldman Sachs says.
"In total, Airbus has received 268 net orders this year... Full-year cancellations fell from 363 cancellations in 2019 to 115 in 2020," it added.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.