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Airbus: Oddo still a buyer, trims target price

(CercleFinance.com) - Oddo confirms its "outperform" rating on Airbus shares, shaving a euro off its target price from 140 euros to 139 euros.


Last night, the aircraft manufacturer announced that due to "a complex environment", it was abandoning its target of 700 deliveries in 2022.

Nevertheless, the final number should not deviate significantly from the previous target and EBIT guidance of about 5.5 billion euros and adjusted FCF of about 4.5 billion euros have been reiterated, the analyst reports.

In this context, Oddo says that it has adjusted its EBIT to 5,509 million euros for the delivery of 675 aircraft (-7 A220s, -22 A320s, +4 A330s) while maintaining an FCF forecast slightly above guidance, at 4,950 million euros.

For 2023, the broker now expects 785 deliveries (vs. 810 previously and 813 for the consensus).



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