Airbus: Oddo says share heavily undervalued
(CercleFinance.com) - In October alone, Airbus delivered 72 aircraft (including 12 A220, 2 A320ceo, 41 A320neo, 4 A330, 12 A350 and 1 A380), up 26.
3% from September.
For the record, Oddo is modelling a production of 40 A320/month until the end of 2021 before increasing to an average of 45/months in 2022 and about 55 in 2023. Its estimate of 494 deliveries for FY 2020 certainly seems cautious, as this suggests the delivery of just 81 aircraft in the last two months of the year.
Analysts expect FCF of -7,981 million euros, excluding the payment of the 3.6 billion euro fine, meaning 217 million euros in Q4 2020, ending the year with 101 aircraft still on the balance sheet, they add.
Oddo confirms its buy rating on the stock, along with a target price of 89 euros (22% upside potential - note the share is up over 4% on Monday morning).
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.
3% from September.
For the record, Oddo is modelling a production of 40 A320/month until the end of 2021 before increasing to an average of 45/months in 2022 and about 55 in 2023. Its estimate of 494 deliveries for FY 2020 certainly seems cautious, as this suggests the delivery of just 81 aircraft in the last two months of the year.
Analysts expect FCF of -7,981 million euros, excluding the payment of the 3.6 billion euro fine, meaning 217 million euros in Q4 2020, ending the year with 101 aircraft still on the balance sheet, they add.
Oddo confirms its buy rating on the stock, along with a target price of 89 euros (22% upside potential - note the share is up over 4% on Monday morning).
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.