Airbus: Credit Suisse reiterates buy rating
(CercleFinance.com) - On Wednesday morning, Credit Suisse provided an update on A320 deliveries for 2020 onwards.
"Our FY forecast (41 aircraft per month on average) could eventually prove too high, in particular if there is no year-end catch-up contrary to normal years, but it is too early to tell," the broker says.
"Our delivery expectations over the years 2021e-2024e for the A320 seem to be consistent with the three estimates we have defined in our report, with 2021e in crisis (around 40 aircraft per month), 2022e-2023e in steady state (50-55) and 2024e returning to growth (> 60)," adds Credit Suisse.
Credit Suisse confirms its value Outperform rating on the share with a target price of 82 euros per share, concluding "Consolidation with the market overall and specific news flow may offer attractive entry points."
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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.
"Our FY forecast (41 aircraft per month on average) could eventually prove too high, in particular if there is no year-end catch-up contrary to normal years, but it is too early to tell," the broker says.
"Our delivery expectations over the years 2021e-2024e for the A320 seem to be consistent with the three estimates we have defined in our report, with 2021e in crisis (around 40 aircraft per month), 2022e-2023e in steady state (50-55) and 2024e returning to growth (> 60)," adds Credit Suisse.
Credit Suisse confirms its value Outperform rating on the share with a target price of 82 euros per share, concluding "Consolidation with the market overall and specific news flow may offer attractive entry points."
Copyright (c) 2020 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.