
Airbus: Oddo BHF still a buyer
(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on Airbus shares, with an unchanged target price of E180.
The analyst indicates that he has marginally modified his estimates following a video communication from the aircraft manufacturer published yesterday evening.
We are expecting FY 24 adjusted EBIT of E5,430m, of which E2,633m in Q4 alone (+19.4% y-o-y), on sales of E69.9 bn, giving a margin of 7.8% (of which 10.3% in Q4 alone, +70bp), the broker says.
Oddo BHF believes that the end of the year will facilitate the start of a phase of rebuilding management credibility, thereby extending investors' horizons.
Even in the short term, the growth/pricing combination remains very attractive, with a 2026 P/E of 21.1x and an FCF yield of 4.7%, for a 2024-28 EPS CAGR of 24%, the broker points out.
Copyright (c) 2025 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 analyst indicates that he has marginally modified his estimates following a video communication from the aircraft manufacturer published yesterday evening.
We are expecting FY 24 adjusted EBIT of E5,430m, of which E2,633m in Q4 alone (+19.4% y-o-y), on sales of E69.9 bn, giving a margin of 7.8% (of which 10.3% in Q4 alone, +70bp), the broker says.
Oddo BHF believes that the end of the year will facilitate the start of a phase of rebuilding management credibility, thereby extending investors' horizons.
Even in the short term, the growth/pricing combination remains very attractive, with a 2026 P/E of 21.1x and an FCF yield of 4.7%, for a 2024-28 EPS CAGR of 24%, the broker points out.
Copyright (c) 2025 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.