Airbus: UBS notes outperformance of Commercial aircraft
(CercleFinance.com) - UBS confirms its buy rating on the share of the aircraft manufacturer Airbus, whose quarterly results do not appear to have been much appreciated by the market at lunchtime today.
The broker maintains its 12-month target price at 136 euros.
Considering its quarterly sales (12.5 billion euros) and adjusted operating income (549 million euros), UBS says that Q1 2019 accounts published by Airbus seem to be in line with the consensus. This may be so, although Airbus Commercial, the group's main civilian aircraft division, reported adjusted operating profit of 536 million euros, significantly above the consensus (471 million euros). UBS hails this performance, especially as the euro/dollar parity has not really helped the group at the start of the year.
UBS also notes that the group's quarterly free cash flow of 4.4 billion euros also exceeds expectations by around 400 million euros. In addition, management has confirmed its forecasts.
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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 broker maintains its 12-month target price at 136 euros.
Considering its quarterly sales (12.5 billion euros) and adjusted operating income (549 million euros), UBS says that Q1 2019 accounts published by Airbus seem to be in line with the consensus. This may be so, although Airbus Commercial, the group's main civilian aircraft division, reported adjusted operating profit of 536 million euros, significantly above the consensus (471 million euros). UBS hails this performance, especially as the euro/dollar parity has not really helped the group at the start of the year.
UBS also notes that the group's quarterly free cash flow of 4.4 billion euros also exceeds expectations by around 400 million euros. In addition, management has confirmed its forecasts.
Copyright (c) 2019 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.