Airbus: RBC confident about annual delivery target
(CercleFinance.com) - On Wednesday Royal Bank of Canada renewed its 'sector perform' (neutral) rating on Airbus shares, along with its E140 target price, following the aircraft manufacturer's latest delivery figures.
The group last night announced that it had booked 113 gross orders in November, and delivered 64 aircraft to 40 clients.
Following these figures, RBC is confident of the group achieving its annual target of 720 aircraft, which it calculates implies the sale of an average of 81 aircraft per month in November and December.
However, the analyst also notes that last month's 64 deliveries were lower than both the 71 in October 2023 and the 68 in November 2022, which means that Airbus will have its work cut out in December.
RBC also points out that the Dubai Air Show was disappointing for Airbus, with only 40 firm orders compared with 214 for its big rival Boeing.
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