Airbus: leads CAC 40, as Deutsche Bank upgrades to buy
(CercleFinance.com) - Airbus climbed on the Paris Bourse on Tuesday in the wake of a recommendation upgrade by Deutsche Bank, which this morning upgraded the European aircraft manufacturer's share from 'hold' to 'buy'.
Around 10am, the aircraft manufacturer's shares gained nearly 1.7%, a big winner on the CAC 40, along with Safran (+1.2%), also upgraded by Deutsche Bank.
At the same time, the Paris index lost 0.1%.
The German broker considers Airbus to be better positioned now that market delivery forecasts for 2025 and 2026 have been reduced to more reasonable levels.
In its view, Airbus should deliver 761 aircraft this year, close to its target of 770 deliveries.
The analyst, who is also raising his price target from E155 to E185, adds that the 'cheap' nature of the stock, which currently boasts a 2026 EV/Ebit multiple of 13.7x, is also a factor behind its upgrade.
Airbus shares have risen by over 14% YTD.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
Around 10am, the aircraft manufacturer's shares gained nearly 1.7%, a big winner on the CAC 40, along with Safran (+1.2%), also upgraded by Deutsche Bank.
At the same time, the Paris index lost 0.1%.
The German broker considers Airbus to be better positioned now that market delivery forecasts for 2025 and 2026 have been reduced to more reasonable levels.
In its view, Airbus should deliver 761 aircraft this year, close to its target of 770 deliveries.
The analyst, who is also raising his price target from E155 to E185, adds that the 'cheap' nature of the stock, which currently boasts a 2026 EV/Ebit multiple of 13.7x, is also a factor behind its upgrade.
Airbus shares have risen by over 14% YTD.
Copyright (c) 2024 CercleFinance.com. All rights reserved.