Airbus: Jefferies still a buyer
(CercleFinance.com) - Airbus will publish its Q3 2024 results on 30 October after trading.
Ahead of this publication, Jefferies confirms its Buy recommendation on the stock, with a target price of E160.
We estimate adjusted EBIT at E1,228m, up 21% y-o-y, but down 7% excluding the exceptional charge of E0.3bn in Q3 2023, analysts say.
In the commercial sector, we expect stable EBIT, with the mix and cost savings offsetting currency and inflation headwinds.
FCF is expected at minus E426m, broadly stable y-o-y. We do not anticipate any change in forecasts, despite FCF and a delivery profile concentrated at the end of the quarter, Jefferies adds.
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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.
Ahead of this publication, Jefferies confirms its Buy recommendation on the stock, with a target price of E160.
We estimate adjusted EBIT at E1,228m, up 21% y-o-y, but down 7% excluding the exceptional charge of E0.3bn in Q3 2023, analysts say.
In the commercial sector, we expect stable EBIT, with the mix and cost savings offsetting currency and inflation headwinds.
FCF is expected at minus E426m, broadly stable y-o-y. We do not anticipate any change in forecasts, despite FCF and a delivery profile concentrated at the end of the quarter, Jefferies adds.
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.