Airbus: RBC renews buy rating, with E80 TP

(CercleFinance.com) - On Friday, RBC renewed its 'outperform' rating on and E180 target price for Airbus shares, following the company's announcement of 47 aircraft deliveries in August, albeit down 10% y-o-y.


The Canadian broker, which points out that this figure brings the number of commercial aircraft delivered YTD to 447, believes that these figures, which represent the weakest month of the year historically for the aircraft manufacturer, should not be over-interpreted.

However, RBC notes that the group's supply difficulties do not seem to have eased, indeed could have worsened.

The broker says that performance over the coming months will be crucial if Airbus is to meet its annual targets.

We don't believe that August's delivery figures are likely to dampen investors' growing hopes of achieving the forecast of 770 units delivered by 2024, but they do increase the pressure on the company's shoulders ahead of September's figures and Q4 as a whole, RBC says.


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