Airbus: RBC renews buy rating, with E80 TP
(CercleFinance.com) - On Friday, RBC renewed its 'outperform' rating on and E180 target price for Airbus shares, following the company's announcement of 47 aircraft deliveries in August, albeit down 10% y-o-y.
The Canadian broker, which points out that this figure brings the number of commercial aircraft delivered YTD to 447, believes that these figures, which represent the weakest month of the year historically for the aircraft manufacturer, should not be over-interpreted.
However, RBC notes that the group's supply difficulties do not seem to have eased, indeed could have worsened.
The broker says that performance over the coming months will be crucial if Airbus is to meet its annual targets.
We don't believe that August's delivery figures are likely to dampen investors' growing hopes of achieving the forecast of 770 units delivered by 2024, but they do increase the pressure on the company's shoulders ahead of September's figures and Q4 as a whole, RBC says.
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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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
The Canadian broker, which points out that this figure brings the number of commercial aircraft delivered YTD to 447, believes that these figures, which represent the weakest month of the year historically for the aircraft manufacturer, should not be over-interpreted.
However, RBC notes that the group's supply difficulties do not seem to have eased, indeed could have worsened.
The broker says that performance over the coming months will be crucial if Airbus is to meet its annual targets.
We don't believe that August's delivery figures are likely to dampen investors' growing hopes of achieving the forecast of 770 units delivered by 2024, but they do increase the pressure on the company's shoulders ahead of September's figures and Q4 as a whole, RBC says.
Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.